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Autodesk fiscal Q1 loss widens 14.7% YOY

Autodesk Inc. said its normalized net income for the fiscal first quarter ended April 30 was a loss of 33 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 23 cents per share.

The per-share loss increased 17.0% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $72.8 million, compared with a loss of $63.4 million in the prior-year period.

The normalized profit margin declined to negative 15.0% from negative 12.4% in the year-earlier period.

Total revenue declined 5.1% on an annual basis to $485.7 million from $511.9 million, and total operating expenses decreased from the prior-year period to $594.6 million from $609.3 million.

Reported net income totaled a loss of $129.7 million, or a loss of 59 cents per share, compared with a loss of $168.3 million, or a loss of 75 cents per share, in the prior-year period.