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.