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Autodesk Announces Executive Change
Autodesk, Inc. (NASDAQ: ADSK) has announced the departure of Mark Hawkins, its executive vice president and chief financial officer. After over five years with the company, Hawkins will be stepping down at the end of July to take on a new role as CFO at Salesforce.com. This transition comes as Autodesk continues to evolve in the design and engineering software space.
In a statement, Carl Bass, Autodesk’s president and CEO, expressed his appreciation for Hawkins’ contributions. “Mark has been an excellent financial partner and played a key role in leading the company through several important initiatives,†said Bass. “He leaves Autodesk in strong financial shape, supported by a respected finance team. I wish him the best in his future endeavors.â€
Hawkins reflected on his time at Autodesk, highlighting the company’s growth from the challenges of the Great Recession to its current position as a leader in cloud-based solutions. “It’s been a pleasure working with Carl and the entire team at Autodesk,†he said. “I’m proud to have been part of this journey and to see the company well-positioned for the future.â€
As the company searches for a new CFO, Autodesk remains confident in its financial outlook for the second quarter of fiscal 2015. The company expects revenue and EPS to meet or exceed its previously issued guidance and has reaffirmed its full-year fiscal 2015 projections.
Looking ahead, Autodesk’s business outlook for Q2 FY15 includes revenue between $595 million and $610 million, with GAAP EPS expected to range from $0.05 to $0.10 and non-GAAP EPS between $0.25 and $0.30. For the full year, the company anticipates billings growth of 7-9%, revenue growth of 4-6%, and net subscription additions of 150,000 to 200,000.
The company also provided a reconciliation of its GAAP and non-GAAP operating margins for fiscal 2015, showing a range of 3-5% for GAAP and 14-16% for non-GAAP. These figures exclude items such as stock-based compensation, amortization of intangibles, and restructuring charges.
Autodesk emphasized that its forward-looking statements involve risks and uncertainties, including economic conditions, market competition, and the success of its transition to a cloud-based model. The company is committed to transparency and provides detailed disclosures in its SEC filings.
For more information about Autodesk and its products, visit autodesk.com or follow @autodesk on social media.