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Autodesk swings to loss in fiscal Q2

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Autodesk swings to loss in fiscal Q2

Autodesk Inc. said its normalized net income for the fiscal second quarter ended July 31 amounted to a loss of $937,500, compared with income of $29.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 0.2% from 4.6% in the year-earlier period.

Total revenue decreased on an annual basis to $609.5 million from $637.1 million, and total operating expenses grew from the prior-year period to $605.2 million from $586.4 million.

Reported net income totaled a loss of $236.1 million, or a loss of $1.04 per share, compared with income of $30.2 million, or 13 cents per share, in the prior-year period.