SAN RAFAEL, Calif. (AP) - Autodesk Inc., a maker of software used for mechanical and architectural design, said Thursday fiscal first-quarter revenue rose 17 percent on sales of new products and fees from existing licenses.
Revenue in the quarter ended April 30 rose to $509 million, boosted by a 22 percent increase in maintenance revenue from subscriptions and upgrades. Sales of new licenses and in emerging markets also helped lift revenue.
The company previously forecast first-quarter revenue in a range of $490 million to $500 million.
The company did not report earnings for the quarter ended in April because it is in the process of restating financial results from the fiscal years 2003 through 2006. Autodesk is correcting accounting for expenses related to stock-option grants that were recorded with incorrect dates.
The company also said it found errors in accounting for some reseller incentives in fiscal 2005 and 2006, that, when corrected, will increase revenue by $5 million and $15 million in the respective years. Deferred revenue in those periods will be lowered by the same respective amounts.
Autodesk is one of at least 214 companies that have been questioned by federal regulators over possible backdating of stock options or launched their own internal investigations.
In electronic after-hours trading, Autodesk shares added 54 cents to $43.84. During the regular trading session, shares fell 50 cents to $43.30.
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