SAN RAFAEL (dpa-AFX) - Design software company Autodesk Inc. (ADSK), Thursday reported a better-than-expected increase in second-quarter profit, aided by growth across all segments and geographies. The company also raised its sales expectations for the full year. Autodesk shares, which slid over 8.0 percent during the regular session, recovered in extended hours, gaining almost 6.0 percent on the news.
The San Rafael, California-based company earned $71.0 million or $0.30 per share for the quarter, an increase from $60.0 million or $0.25 per share last year.
Excluding items, adjusted earnings for the quarter were $104.0 million or $0.44 per share, compared with $85.0 million or $0.36 per share a year earlier.
On average, 19 analysts polled by Thomson Reuters expected earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
Autodesk reported quarterly sales of $546.0 million, a 16.0 percent increase from $473.0 million last year. Wall Street analysts expected revenues of $539.29 million.
Autodesk Chief Executive Carl Brass said, 'Our manufacturing business segment had its largest revenue quarter ever and continues to be our fastest growing segment. Our AEC business segment returned to strong growth in the second quarter as the building and construction industries continue to standardize on Building Information Modeling. And our newly launched design and creation suites are off to a terrific start, helping drive our overall revenue growth.'
By segment, Platform Solutions and Emerging Business increased 12.0 percent from the prior year, and Architecture, Engineering and Construction were higher by 19.0 percent. Manufacturing business segment grew 20.0 percent, and Media and Entertainment business rose 9.0 percent, from last year.
Among regions, EMEA sales gained 12.0 percent from last year, and Americas grew 13.0 percent. Asia Pacific jumped 24.0 percent, compared with last year, and emerging economies chipped in with 23.0 percent growth.
Looking ahead to the third quarter, Autodesk expects earnings of $0.25 to $0.29 per share, and adjusted earnings of $0.38 to $0.42 per share. Revenues are forecast in the range of $535.0 million to $550.0 million.
Street analysts currently expect the company to earn $0.41 per share on sales of $541.17 million for the third quarter.
For the full year 2012, Autodesk now expect sales to increase about 13.0 percent from fiscal 2011, compared with its previous estimate of a 12.0 percent growth. The Street currently expects full-year sales of $2.19 billion.
ADSK closed Thursday's regular trade at $26.51, down $2.34 or 8.11%, on a volume of 8.9 million shares on the Nasdaq. In after hours, the stock gained $1.54 or 5.81%.
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