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Autodesk Introduces New Software, Emphasizing Cloud Offerings

By Ian Sherr Of DOW JONES NEWSWIRES SAN FRANCISCO -(Dow Jones)- Design software maker Autodesk Inc. (ADSK) announced several new products Tuesday with increasing emphasis on Internet-based projects and its cloud-computing platform. Autodesk said its new design software would be easier to use, and would work more seamlessly with its "Autodesk 360" cloud computing products, which offers a way to store and share documents as well as work out complex tasks using Autodesk's fast servers rather than the customer's computer. Carl Bass, Autodesk's chief executive, said his company's cloud products have been well-received by customers since launching last year. For example, Bass said, more than 300,000 documents had been uploaded to the company's "AutoCAD WS" software service for mobile devices, such as Apple Inc.'s (AAPL) iPad and tablets made using Google Inc.'s (GOOG) Android operating system. Millions more have downloaded Autodesk's other applications for drawing and sketching as well, the company said. "The response has been overwhelmingly popular," Bass said during an event in San Francisco. The latest products from the San Rafael, Calif., software company are part of a larger effort to move customers toward Autodesk's cloud services, and the recurring subscription revenues that come with it. Nearly half of the company's $2.2 billion in revenue last year came from subscriptions, Bass added, and that number will likely continue to climb. Bass said one feature of his company's new software offerings will allow customers to click a button and either store their work to Autodesk 360 or use the company's cloud to perform complex computations, such as creating photo-realistic images or a detailed model of a city. By moving to a subscription-based revenue stream and pushing tools online, Bass said Autodesk also will be able to continually refine its products as customers access them, rather than releasing software at regular intervals. He added that the company's expectations of expanding sales at least 10% this year doesn't include potential gains from the company's cloud products. The cloud also offers Autodesk an opportunity to expand its margins, Bass said in an interview with Dow Jones Newswires. "The marginal cost of additional software and services is low," he said. "As our business grows it becomes more profitable." And despite offering some of its newer products free for tablet computers, for example, Bass said that as customers' needs grow and their projects become more advanced, they will likely seek out the company's other offerings, lifting overall sales. "The fundamental strategy is to grow as big and broadly as possible," he said. "If we serve a greater number of people, we run a better business." Autodesk shares, which have risen more than 39% since the beginning of this year, recently traded down a dime at 42.27. -By Ian Sherr, Dow Jones Newswires; 415-439-6455; ian.sherr@dowjones.com

Stock News for Autodesk (ADSK)
DateTimeHeadline
03/27/201517:24:20Statement of Changes in Beneficial Ownership (4)
03/27/201517:22:46Statement of Changes in Beneficial Ownership (4)
03/24/201517:17:53Statement of Changes in Beneficial Ownership (4)
03/24/201517:15:44Statement of Changes in Beneficial Ownership (4)
03/24/201517:13:38Statement of Changes in Beneficial Ownership (4)
03/24/201517:11:50Statement of Changes in Beneficial Ownership (4)
03/24/201517:09:42Statement of Changes in Beneficial Ownership (4)
03/23/201509:00:00AutoCAD 2016 Helps Design Every Detail With Rich Visual Accuracy
03/19/201519:17:49Statement of Changes in Beneficial Ownership (4)
03/18/201516:09:29Annual Report (10-k)
03/17/201518:11:51Statement of Changes in Beneficial Ownership (4)
03/17/201516:05:04Current Report Filing (8-k)
03/17/201508:00:00Autodesk Launches Tinkerplay App to Make 3D Design and 3D Printing...
03/11/201516:28:45Statement of Changes in Beneficial Ownership (4)
03/09/201519:55:45Statement of Changes in Beneficial Ownership (4)
03/09/201519:54:08Statement of Changes in Beneficial Ownership (4)
03/01/201505:02:23Some Companies Are More Wonderful Than Others
02/27/201518:38:09Statement of Changes in Beneficial Ownership (4)
02/27/201501:27:03Autodesk (ADSK) Carl Bass on Q4 2015 Results - Earnings Call...
02/26/201516:02:01Current Report Filing (8-k)

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