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Autodesk profit misses consensus by 47.7% in fiscal Q1

Autodesk Inc. said its normalized net income for the fiscal first quarter ended April 30 was 11 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS fell 44.7% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.9 million, a decrease of 44.1% from $46.3 million in the prior-year period.

The normalized profit margin dropped to 4.4% from 8.1% in the year-earlier period.

Total revenue climbed on an annual basis to $592.5 million from $570.4 million, and total operating expenses climbed 12.2% from the prior-year period to $548.0 million from $488.6 million.

Reported net income declined 49.5% year over year to $27.8 million, or 12 cents per share, from $55.0 million, or 24 cents per share.