Autodesk reported net revenues of $246 million for the first quarter of fiscal year 2002 and growth of 6% compared to $231 million for the first quarter of fiscal year 2001.

On a pro forma basis, as defined below, first quarter net income was $32 million or $0.57 per diluted share compared to $30 million or $0.48 per diluted share for the same quarter a year ago. This equals year over year pro forma earnings per share growth of 19%.

First quarter net income was $28 million or $0.50 per diluted share compared to net income for the same quarter a year ago of $26 million or $0.41 per diluted share. This equals year over year earnings per share growth of 22%.

Our quarter tracked very well as we grew earnings by 19 percent, said Carol Bartz, Autodesk chairman and chief executive officer. While for some companies economic uncertainty means backing away from operational commitments, for Autodesk the economy is always just another variable. We believe the diversity of our business-multiple geographies, markets, and products-gives us a cushion against a dramatic downturn. With our continued focus on tight fiscal management, we are able to maintain our original earnings guidance for the full year.

First Quarter Highlights

The Asia Pacific region hit a record high, with net revenue jumping 50% sequentially to $68 million for the first quarter.

Discreet delivered another solid quarter, bolstered by a strong showing at two major industry trade events, Game Developers Conference and National Association of Broadcasters.

Customers are rapidly adopting Autodesk’s 3D mechanical design solution, as evidenced by a 27% sequential rise in sales of Inventor. In just three short months of trial, Autodesk Streamline, our hosted service for sharing personalized design data across the entire extended manufacturing enterprise, has received a very strong market reception, garnering industry recognition at key tradeshows and generating over 1,000 trial accounts opened via the web.

Point A, our web portal that complements the core design desktop software, continued forward momentum during Q1, delivering consistently strong metrics. Point A is an integral part of many of our customers’ Autodesk experience. We are leveraging Point A as a high-touch way to drive migration to the latest releases and software delivery options.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially.

Revenue outlook:

For the second quarter of fiscal year 2002, the Company expects net revenue to range between $240 million and $250 million.

Revenue guidance for the full year is being revised down slightly-by approximately two to four percent-to an expected new range between $1,000 million and $1,020 million. These revenue expectations depend on a number of factors, including timely shipment and customer acceptance of key new products based on the AutoCAD 2002 foundation, the ability to grow new internet-related services and businesses, and may be impacted by foreign currency fluctuations and by further slowing in the overall worldwide economies particularly in the United States and Europe.

Earnings per share outlook:

Earnings per diluted share on a pro forma basis, excluding nonrecurring charges as well as amortization of goodwill and purchased intangibles, is expected to range between $0.40 and $0.50 per diluted share for the second quarter of fiscal year 2002.

For the full year, the outlook for earnings per diluted share on a pro forma basis, excluding nonrecurring charges as well as amortization of goodwill and purchased intangibles, is being reaffirmed and is expected to range between $2.10 and $2.25.

Pro forma earnings per diluted share may vary due to timely shipment and customer acceptance of key new products based on the AutoCAD 2002 foundation, our ability to control and further reduce operating costs, future investments and spending related to spin-off business and fluctuations in share count. During the second quarter of fiscal year 2002, the Company expects to take a one-time nonrecurring charge in the range of $10 million to $15 million related primarily to facility consolidations. This charge is excluded in the calculation of pro forma earnings guidance provided in the previous paragraph.