Autodesk Sees 17% Sales Growth on Strong Emerging Markets
Autodesk reported a 17% rise in quarterly sales due to strong revenue growth in emerging markets and new software products.
The graphic design software company said Thursday that first-quarter revenue rose to $509 million and predicted better-than-expected revenue in the second quarter as well as 2007.
Shares rose in extended hours trading, gaining as much as 6%, but gains were later pared to 1%.
The company did not release earnings results due to restatements related to stock options accounting.
Autodesk forecasted second-quarter revenue in a range of $520 million to $530 million, compared with the consensus estimate of $512.8 million, according to Thomson Financial.
Autodesk said it expects full year revenue in a range of $2.12 billion to $2.15 billion, compared with analysts' forecast of $1.84 billion.