Autodesk Inc, the San Rafael, California-based maker of CAD software, has reported a first-quarter net loss of $17.1m on revenue down 12.6% at $194.9m, compared to net income of $28.7m, or $0.48 per share, in the year-ago quarter. Results include $29m in acquisition-related charges, without which, earnings amounted to $0.07 per share. The consensus estimate of analysts surveyed by First Call was for a profit of $0.13. Excluding similar one-time items pro-forma earnings for the year-ago period of $0.56.
The company says results for the quarter were negatively impacted by product transition issues as customers wait for product upgrades. It asserts that it is working to address the issues and adds that customers have shown enthusiasm for the upcoming Design 2000 product family. Analysts are expecting earnings of $0.29 for the second quarter and $1.58 for the full year.
