Autodesk hurdles 1Q estimates

Autodesk (Nasdaq: ADSK) earned more than the consensus estimate in the first quarter.

After market close Thursday, the vendor of design software reported fiscal first quarter pro forma income of $30.2 million, or 48 cents per share, not counting amortization and one-time events. First Call's survey of seven analysts predicted a profit of 46 cents per share.

Including all line items, Autodesk posted first quarter net income of $25.6 million, or 41 cents pe share.

First quarter revenue increased to $223.3 million, up 14.6 percent from $194.9 million in the year-ago period.

"Autodesk has transformed to meet the demands of the new economy and our strong revenue performance proves it," said Carol Bartz, chairman and CEO. "We've sustained a solid core business -- adding more revenue streams from diversified product lines, while pursuing additional opportunities to bring design to the Internet."

Thursday's results mark the third straight quarter of better-than-expected results for Autodesk.

Shares of Autodesk slid 15/16 to 38 5/8 in Thursday's regular trading, prior to the earnings report.

Competitors of Autodesk include Dassault Systemes (Nasdaq: DASTY) and Parametric Technology (Nasdaq: PMTC).

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