For the fourth quarter, the company posted net income of $57.6m, up from $6.4m. Sales rose 51% to $295.3m, up from $195.5m.
Autodesk has been recovering recently after experiencing several years of pain following the economic downturn. The downturn had hurt some of its key markets, such as the construction industry, particularly hard.
The San Rafael, California-based company has also continued with its cost-cutting measures. Last November, it announced plans to trim up to 19% of its workforce and close some of its offices in an effort to cut costs. It is expected to lay off between 550 and 650 of its 3,500 strong workforce, with administration and sales staff in the firing line.
For the year ending January 31, it posted a net income $120.3m, up from $31.9m in the previous year. Revenue was also up at $951.6m, from $824.9m the previous year.
The company posted strong growth in revenue from subscription programs, which now account for about 12% of revenue. It has indicated that many new products will be offered on a subscription-only basis, although it will continue to offer boxed versions of older products.
This article is based on material originally published by ComputerWire
