Autodesk hit by recession

In Is the Recession hurting AEC IT? last month, I said I would keep an eye on the financial results of some of the key players in the AEC market.

Last week, Autodesk announced its results for the last quarter of 2008: revenues down 18% from the previous year (spread across every operating region; EMEA down 16%, for example), with net income showing a loss of $105.3 million. Forecasts are gloomy, predicting continuation of the downward trend and another loss. Autodesk is already making significant cost reductions, including laying off about 750 people and making a corresponding cut in its San Rafael office space.

There was no specific mention of how Autodesk’s SaaS products, Buzzsaw or Constructware, were faring in the current market conditions.

(At WorldCAD Access, Ralph Grabowski fleshes out the figures a little more here, or you can view a transcript of last week’s conference call.)

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