Autodesk Q4 Looks Positive with Profit

Written by Vector1Media Tuesday, 23 February 2010 22:39

Autodesk Inc. (ADSK) swung to a fiscal fourth-quarter profit despite lower revenue, as year-earlier results were hurt by steep restructuring costs and write-downs.Shares of the design-software company rose 2.2% to $26.23 in after-hours trading, as results topped the company's estimates. The stock has more than doubled from the five-year low set in March.While sales slumped amid global economic weakness, the maker of the popular AutoCAD design software used by engineers and architects has stayed profitable by cutting costs. On Tuesday, it said it "greatly exceeded" its initial goal of pretax cost savings of $250 million for the year. Read More

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