On a pro forma basis, as defined below, second quarter net income was $30 million or $0.53 per diluted share compared to $25 million or $0.43 per diluted share for the same quarter a year ago.
Second quarter net income was $19 million or $0.34 per diluted share and was impacted by nonrecurring charges of $10 million, which was primarily related to facility consolidations in the United States. This compares to net income for the same quarter a year ago of $21 million or $0.35 per diluted share.
Our customer relationships have never been stronger. The more we talk about how to leverage digital design data into greater productivity and efficiency, the more interest there is in our solutions, said Carol Bartz, Autodesk chairman and chief executive officer. Customers believe in our vision and strategy. This, combined with our strongest product line ever, may very well offset the current uncertain macroeconomic conditions.
The Americas region generated record sales of $116 million an increase of 9% from one year ago.
Record sales in the Americas and strong AutoCAD upgrade revenue of $55 million indicate launch success for the new core design applications. Customers are recognizing the value in the new 2002 family of products as well as the seamless integrated desktop/network environment. Customers are embracing the targeted functionality of our industry-specific applications for building design, manufacturing, and infrastructure design and management.
Fueled by the flagship product, Autodesk Architectural Desktop, revenues for the Building Industry Division, formerly known as Architecture, Engineering, and Construction, jumped 42% from one year ago to $18 million. The Company also bolstered its position in the building industry with its second quarter announcement of a definitive agreement to acquire the remaining interest in Buzzsaw.com.
Geographic Information Systems also benefited from strong sales broadly across the product line ranging from recently shipped Autodesk Map and Autodesk Land Desktop to Autodesk Civil Design and Autodesk CAD Overlay. Revenues for this division were $27 million, up 31% from one year ago.
The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially.
For the third quarter of fiscal year 2002, the Company expects net revenue to range between $225 million and $235 million.
Revenue guidance for the full year is being revised down slightlyby approximately 3%to a new range of $970 million to $990 million.
These revenue expectations depend on a number of factors, including further slowing in the worldwide economies especially in Europe, failure to achieve customer acceptance of key new design and entertainment applications, failure to grow new Internet-related services and businesses, inability of customers to obtain external financing, failure to achieve anticipated revenue results from newly acquired businesses, and foreign currency fluctuations.
Earnings per share on a pro forma basis, excluding nonrecurring charges as well as amortization of goodwill and purchased intangibles, is expected to range between $0.32 and $0.42 per diluted share for the third 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 per diluted share.
