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Autodesk Sees 17% Sales Growth on Strong Emerging Markets

Thursday, 17 May 2007 | 5:42 PM ET

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.

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