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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63875)	5/17/2002 2:03:40 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Autodesk Falls as 2nd-Quarter Target Cut; CFO Departs (Update2) By Alan Ohnsman quote.bloomberg.com San Rafael, California, May 16 (Bloomberg) -- Autodesk Inc., which makes software to design bridges, buildings and video games, said first-quarter profit fell 37 percent and its chief financial officer resigned. Shares fell as much as 16 percent after Autodesk said second-quarter profit would also decline. Net income for the quarter ended April 30 fell to $17.6 million, or 16 cents a share, from $27.9 million, or 28 cents, a year earlier, company spokeswoman Sheryl Seapy said. Sales dropped 6.7 percent to $229.3 million from $245.7 million, in line with Autodesk's preliminary results announced on May 6. ``It was tough, but we feel good about our strategy and lines of business,'' said Carol Bartz, chairman, president and chief executive officer in an interview. ``We don't feel as good about the economy.'' The company's media unit suffered after spending was ``lighter than usual,'' while business in Japan declined because the Japanese government isn't ``doing much funding of construction and infrastructure projects,'' Bartz said. ``So both those units missed their numbers.''