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Autodesk Reports Second Quarter Earnings

Sydney, August 18, 2000 - Autodesk Inc. (Nasdaq: ADSK), today announced financial results for its second quarter ending July 31, 2000. For the second quarter of fiscal year 2001, Autodesk reported net revenues of $226.3 million, compared to net revenues of $202.9 million reported for the same quarter a year ago.

On a pro forma basis, second quarter net income was $25.3 million or $0.43 per share on a diluted basis compared to $5.7 million or $0.09 per share for the same quarter a year ago.

Second quarter net income was $20.8 million or $0.35 per share on a diluted basis. This compares to net income for the prior year of $0.4 million or $0.01 per share.

"Our second quarter was about execution on our strategy," said Carol Bartz, Autodesk Chairman and CEO. "Our business units delivered on all fronts - from shipping new products that facilitate our customers' e-business evolution to closing significant deals with customer solutions that span our product families. Through technology innovation and a focus on how our customers work, Autodesk will continue the global product and market diversification that is our strength."

Autodesk hosted a webcast on the second quarter results. A replay of the webcast is available until August 27, 2000 www.Autodesk.com/investor.

A summary of Autodesk's financial results is as follows:

Three months ended July 31 2000 1999 Net revenues $226,250,000 $202,945,000 Net income $20,753,000 $389,000 Pro forma net income (1) $25,328,000 $5,688,000 Diluted net income per share $0.35 $0.01 Pro forma diluted net income per share (1) $0.43 $0.09

(1) Pro forma results for the quarter ended July 31, 2000, exclude amortisation of goodwill and purchased intangibles of $7.3 million or $0.12 per share on a diluted basis. Pro forma results for the quarter ended July 31, 1999, exclude amortisation of goodwill and purchased intangibles of $7.8 million or $0.13 per share on a diluted basis.

Six months ended July 31 2000 1999 Net revenues $449,579,000 $397,884,000 Net income (loss) (2) $46,359,000 $(16,755,000) Pro forma net income (3) $55,489,000 $14,740,000 Diluted net income (loss) per share (2) $0.77 $(0.28) Pro forma diluted net income per share (3) $0.92 $0.24

(2) Net income for the six months ended July 31, 2000, includes non-recurring credits of $0.8 million or $0.01 per share on a diluted basis reported in the first quarter. The net loss for the six months ended July 31, 1999, includes non-recurring charges of $21.8 million or $0.36 per share on a diluted basis reported in the first quarter.

(3) Pro forma results for the six months ended July 31, 2000, exclude non-recurring credits and amortisation of goodwill and purchased intangibles that netted to $14.3 million or $0.24 per share on a diluted basis. Pro forma results for the six months ended July 31, 1999, exclude non-recurring charges and amortisation of goodwill and purchased intangibles that totalled $36.8 million or $0.61 per share on a diluted basis.

Any forward-looking statements in this release are necessarily subject to uncertainties based on various factors, including general market and business conditions, product development and release milestones, competitive factors and customer acceptance of our products. Further information on potential factors that could affect the financial results of Autodesk are included in the Company's Report on Form 10-K for the year ended January 31, 2000, and Form 10-Q for the quarter ended April 30, 2000, which are on file with the US Securities and Exchange Commission. About Autodesk Autodesk is the world’s leading design and digital content creation resource. The company provides software and Internet portal services to help customers drive business through the power of design. One of the largest software companies in the world, Autodesk helps more than four million customers in over 150 countries turn designs into reality. For more information, visit www.autodesk.com.au  www.autodesk.co.nz or contact any Authorised Autodesk Reseller. 

 

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