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| Friday, November 17, 2006 |
Autodesk Inc., maker of the design software AutoCAD, on Thursday said it expects to post third-quarter sales of $457 million, but the company withheld full results due to an ongoing probe into past stock option practices.
Sales for the quarter ended in October were roughly in line with analyst expectations for sales of $457.2 million, according to Thomson Financial. The company said sales of 3-D products increased, while revenue from its 2-D products "remains very strong."
Autodesk previously said it expects to record additional stock-based compensation costs but has not yet determined in what amount or if past periods will require restatement. A review by the company's audit committee is ongoing.
Looking ahead, Autodesk forecast fourth-quarter revenue of $490 million to $500 million and fiscal 2007 revenue between $1.83 billion and $1.84 billion. Analysts predict quarterly sales of $495.9 million and annual sales of $1.84 billion.
Shares rose 38 cents to close at $37 on the Nasdaq, and then jumped $1.35, or 3.7 percent, to $38.35 in aftermarket trading on the INET. |
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