02.10.2013 14:36:22

Autodesk To Buy Certain Assets From Graitec; Backs Q3 View - Quick Facts

(RTTNews) - Autodesk, Inc. (ADSK), a provider of 3D design software, Wednesday said it signed a definitive agreement with the shareholders of Graitec, a CAD and engineering software provider, to acquire certain technology assets, including Graitec's Advance Steel and Advance Concrete product lines, and associated employees. The financial terms of the deal were not disclosed. The transaction is expected to close in the fourth quarter of fiscal 2014. Autodesk expects its current offerings for structural engineering to get enhanced, and its technology for Building Information Modeling for structural fabrication and detailing to get expanded through the deal.

Separately, the company reiterated its third-quarter guidance for revenues to be in the range $540 million - $555 million, and adjusted earnings of $0.36 -$0.40 per share. GAAP earnings per share are expected to be in the $0.17 - $0.21 range. The Street expects the company to report earnings of $0.39 per share, on revenues of $548.86 million.

Autodesk also provided its initial fourth quarter fiscal 2014 outlook. Including impact of about $50 million from business model transition, revenues are expected to be in the range of $560 million - $580 million. Adjusted earnings are expected to be between $0.29 and $0.36 per share and GAAP earnings between $0.09 and $0.16 per share. Analysts expect the company to report earnings of $0.49 per share, on revenues of $596.5 million.

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