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  • Autodesk reports fiscal 2nd Quarter Results
    Autodesk, Inc. has added a financial news release to its Investor Relations website.

    Title: Autodesk Reports Second Quarter Results

    Date(s): 22-Aug-2013 4:01 PM

    For a complete listing of our news releases, please click here

    SAN RAFAEL, Calif.–(BUSINESS WIRE)–Aug. 22, 2013– Autodesk, Inc.(NASDAQ:ADSK) today reported financial results for the second quarter of fiscal 2014.
    Second Quarter Fiscal 2014
    • Revenue was $562 million, a decrease of 1 percent, compared to the second quarter of fiscal 2013 as reported and an increase of 2 percent on a constant currency basis.
    • GAAP operating margin was 15 percent, compared to 16 percent in the second quarter of fiscal 2013.
    • Non-GAAP operating margin decreased by approximately 100 basis points to 24 percent, compared with 25 percent in the second quarter of fiscal 2013. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables.
    • GAAP diluted earnings per share were $0.27, compared to $0.28 in the second quarter of fiscal 2013.
    • Non-GAAP diluted earnings per share were $0.45, compared to $0.48 in the second quarter of fiscal 2013.
    • Deferred revenue increased 7 percent to $806 million, compared to the second quarter of fiscal 2013.
    • Cash flow from operating activities was $65 million, compared to $107 million in the second quarter of fiscal 2013.
    “Our second quarter was marked by strength in our Architecture, Engineering and Construction (AEC) business segment and continued growth in suites,” said Carl Bass, Autodesk president and CEO. “Growth in these vital areas was offset by mixed contributions from other parts of the business. On the product side, we strengthened and expanded our leading product portfolio with new desktop, cloud and mobile offerings.”

    Second Quarter Operational Overview
    EMEA revenue decreased 4 percent to $202 million compared to the second quarter last year as reported and was flat on a constant currency basis. Revenue in the Americas increased 2 percent to $202 million compared to the second quarter last year as reported. Revenue in Asia Pacific decreased 1 percent to $158 million compared to the second quarter last year as reported and increased 4 percent on a constant currency basis. Revenue from emerging economies decreased 2 percent to $86 million compared to the second quarter last year as reported and 1 percent on a constant currency basis. Revenue from emerging economies represented 15 percent of total revenue in the second quarter.
    Revenue from the Platform Solutions and Emerging Business segment decreased 9 percent to $197 million compared to the second quarter last year. Revenue from the AEC business segment increased 9 percent to $177 millioncompared to the second quarter last year. Revenue from the Manufacturing business segment increased 2 percent to $144 million compared to the second quarter last year. Revenue from the Media and Entertainment business segment decreased 11 percent to $43 million compared to the second quarter last year.
    Revenue from Flagship products decreased 11 percent to $289 millioncompared to the second quarter last year. Revenue from Suites increased 18 percent to $193 million compared to the second quarter last year. Revenue from New and Adjacent products was $80 million, and decreased 1 percent compared to the second quarter last year.
    “The challenging dynamics within some of the end-markets that we serve has led us to adjust our growth assumptions,” said Mark Hawkins, Autodeskexecutive vice president and CFO. “While the near-term revenue target is lower, we remain diligent about managing our spend while making essential investments to drive growth.
    “With the recent introduction of more flexible license and service offerings that have ratable revenue streams, such as cloud-based and rental license offerings, Autodesk’s business model is evolving,” continued Hawkins. “We are currently refining our plans around the pace and time frame for this business model transition. We look forward to providing more detail at our Investor Day event scheduled for October 2nd. As we evolve our business model, we remain committed to long-term operating margin expansion.”

    Business Outlook
    The following statements are forward-looking statements that are based on current expectations and assumptions, and involve risks and uncertainties some of which are set forth below. Autodesk’s business outlook for the third quarter assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment, and interest expense related to Autodesk’s $750 million debt offering in December 2012.

    Third Quarter Fiscal 2014
    3Q FY14 Guidance Metrics         Q3 FY14 (ending October 31, 2013)
    Revenue (in millions) $540-$555
    EPS GAAP $0.19-$0.23
    EPS Non-GAAP $0.36-$0.40
     
    Non-GAAP earnings per diluted share exclude $0.11 related to stock-based compensation expense and $0.06 for the amortization of acquisition related intangibles.
    Third quarter fiscal 2014 outlook assumes annual effective tax rates of approximately 23 percent and approximately 25 percent for GAAP and non-GAAP results, respectively. These rates do not include one-time discrete items but do reflect the recently enacted extension of the federal R&D tax credit benefit through December 31, 2013.

    Full Year Fiscal 2014
    Autodesk is not providing full year fiscal 2014 guidance at this time.

  • Toll Brothers CEO Says Housing Rebound Is Real, Still In Early Stages

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    Link to article on Forbes.com
    http://www.forbes.com/sites/steveschaefer/2013/08/21/toll-brothers-housing-rebound-is-real-still-in-early-stages/

  • "Staples's net drops 15%; company cuts year view"

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    Staples stock was down $2.25 per share when I checked it a few minutes ago.

    Article by Saabira
    Chaudhuri on Aug 21st, reporting for MarketWatch.com
    Staples Inc.’s SPLS -13.54% fiscal second-quarter
    earnings slumped 15% as the office-supply giant continued to be pressured by
    weak sales abroad, while North American retail sales also declined.
    Citing weaker-than-expected results for its second quarter,
    Staples lowered its view for the year, now expecting sales to decline in the
    low single digits and per-share earnings to be $1.21 to $1.25. Staples
    previously said it expected sales to rise in the low single digits from a year
    earlier, along with per-share earnings of $1.30 to $1.35.
    Staples, the largest office-supply chain in the U.S., has seen
    its profit challenged by an increasingly digitized office, broad-based weakness
    in Europe and Australia, and greater competition from mass merchants and online
    sellers. However online sales recently have been a relative bright spot, a
    trend that continued in the latest period, with the company logging 3% growth
    from Staples.com sales.
    “We drove online sales growth and aggressively managed
    expenses during the second quarter, but this progress was offset by weakness in
    our retail stores and international businesses,” Chief Executive Ron
    Sargent said Wednesday.
    The company reported its North American same-store sales–which
    exclude sales from Staples.com–fell 3%, reflecting a decline in traffic and in
    order size. Meanwhile, Europe same-store sales slid 6% amid lower traffic.
    For the quarter ended Aug. 3, Staples posted a profit of $102.5
    million, or 16 cents a share, versus a year-ago profit of $120.4 million, or 18
    cents a share, a share.
    Sales fell 2.2% to $5.31 billion.
    Analysts polled by Thomson Reuters recently expected per-share
    earnings of 18 cents on revenue of $5.37 billion.
    Gross margin narrowed to 25.6% from 26.1%. Operating expenses
    fell 1.7%.
    At the North American commercial segment, which sells office
    products and services directly to businesses, sales grew 1.3%. North American
    stores and online sales slipped 2.3%. Meanwhile international sales declined
    8.3%.
    Shares
    of Staples closed Tuesday at $16.84 and were inactive in recent premarket
    trading. The stock has risen 14% in the past three months.

  • AIA Architectural Billings Index (ABI) for July 2013; continues in positive territory!

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     Positive Trend Continues for Architecture Billings Index
    All regions and buildings sectors see increasing
    demand for design services
    For immediate release:
Washington, D.C. –
    August 21, 2013 –     The Architecture Billings Index (ABI) saw a jump of more
    than a full point last month, indicating acceleration in the growth of design
    activity nationally. As a leading economic indicator of construction activity,
    the ABI reflects the approximate nine to twelve month lead time between
    architecture billings and construction spending.
    The American Institute of Architects (AIA) reported the July ABI
    score was 52.7, up from a mark of 51.6 in June.     This score reflects an increase in demand for design services
    (any score above 50 indicates an increase in billings).
    The new projects inquiry index was 66.7, up
    dramatically from the reading of 62.6 the previous month. 


    “There continues to be encouraging signs that
    the design and construction industry continues to improve,” said AIA Chief
    Economist, Kermit Baker, PhD, Hon. AIA.  “But we also hear a wide mix of
    business conditions all over the country, ranging from outstanding and booming
    to slowly improving to flat. In fact, plenty of architecture firms are
    reporting very weak business conditions as well, so it is premature to declare
    the entire sector has entered an expansion phase.”
    Key July ABI highlights:
    • 
    • Regional averages: Northeast (54.3), South
    (54.2), West (51.1), Midwest (50.8)

    • 
    • Sector index breakdown: mixed practice (56.9),
    commercial / industrial (54.2), multi-family residential (53.3), institutional
    (50.6)

    • 
    • Project inquiries index: 66.4
    The regional and sector categories are
    calculated as a 3-month moving average, whereas the index and inquiries are
    monthly numbers.
    Contact: Scott Frank

    202-626-7467
    
sfrank@aia.org

  • What, If Anything, Does 3D Printing Mean for PSPs?

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    An interesting article….

    BY MARK VRUNO,
    WRITING FOR myprintresource.com
    Applying thin plastic layers like ink, the latest digital
    craze has some pretty cool uses.     But can it add value to your traditional,
    two-dimensional printing business?
    READ MORE »

  • Gehry shares digital system for “paperless buildings”

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    BE SURE TO CHECK OUT THE “COMMENTS”
    THAT APPEAR BELOW THE ARTICLE; one reveals reality, the other two are just
    funny!
    This article
    appeared in De Zeen Magazine on April 12, 2013
    Frank Gehry has launched his studio’s paperless system
    for sharing and collaborating on drawings as a scaled-up product for the
    architecture industry.
    The GTeam
    software by Gehry’s technology
    development and consulting company Gehry
    Technologies     is now integrated with cloud-based storage
    service Box, enabling Box’s
    customers in the fields of architecture, construction and engineering to easily
    access and manage blueprints, CAD files and contracts.
    The paperless system was refined by Gehry’s studio
    during the construction of New York by
    Gehry     (pictured), the 265-metre-high apartment building
    completed in 2011, where sharing digital files enabled the architects and
    engineers working on the tower to significantly reduce the number of expensive
    alterations required during construction.
    Box has now scaled
    up the software to bring it to the wider industry and allow others to
    benefit in the same way, according to company CEO Aaron Levie.
    “I think when you can bring these tools to the
    masses, it really opens up innovation in an incredible way,” he said.
    The software was developed by Gehry’s studio over the
    decades to eliminate the need for paper.
    “My dream is to do buildings paperless. And it can
    be done,” Gehry told technology
    magazine Wired    . “I discovered that, using the computer, we had
    more information, which kept us in control and allowed us to protect the owner
    from a lot of waste in the process.”
    GTeam can incorporate files from other design software,
    such as Rhino and AutoCAD, and is already being used in the offices of Zaha Hadid and SOM, according to Gehry.
    In a similar mood of collaboration, Dutch firm
    UNStudio this week announced it will relaunch in June as an “open-source
    architecture studio”     inspired by technology start-ups, using an
    online platform to encourage the exchange of ideas between its own architects
    and those outside the company.
    Gehry was recently asked to
    “tone down” his plans for Facebook’s new Silicon Valley campus    ,
    while earlier this year a Utah congressman launched an attempt to scrap the
    architect’s proposed Washington D.C. memorial for former president Dwight D.
    Eisenhower     – see all architecture
    by Frank Gehry    .
    From the “Comments” section:
    Gilles
    Normandin
    Mr. Gehry ,
    I am about your age, I’ve been in the same business as
    you for 50 years. I am one among other
    architects and designers on a two billion dollar project at McGill University
    Health Center (MUHC) in Montreal.     It is done with a computer program call
    Autodesk Revit producing a 3D model. Said
    like that it seems fantastic, but it isn’t.     We are 300 hundred
    professionals, it is a pure utopia to think that this will solve it all.     Let me tell you that I’ve never in my
    all career seen so many paper drawings!
    Thanks Mr. Gehry for making us believe in utopia! It may
    happen one day.
    TTT
    Says the guy that claims “I can only use the computer
    to throw at somebody”
    TT…
    I wonder if Frank Gehry irons his clothes.

  • Newforma Closes Series D Funding Round

    Originator and leading provider of AECO project information management software category procures additional venture capital to accelerate growth

    Manchester, N.H., U.S.A.—19 August 2013—Newforma, a project information management (PIM) software company integrating people, projects and processes to transform building and infrastructure project delivery, announced today that it has closed a US$5.1 million Series D venture capital round to drive faster growth, develop new products, and expand into new geographic markets. Existing investors North Bridge Venture Partners, Kodiak Venture Partners, and Borealis Ventures all participated in the round.
    “For years now, Newforma has achieved solid growth on the strength of its earnings alone,” saidRich D’Amore, managing partner of North Bridge Venture Partners. “It’s precisely because of that growth that we’re supporting this new round of Series D funding. The company has demonstrated its ability to be very capital-efficient in developing compelling products that deliver tremendous ROI for its customers, capturing a 99 percent renewal rate based on pure SaaS revenues.”
    Newforma was the first software company to create a comprehensive PIM solution for architects, engineers, construction firms, and owners. Today, 1,000 organizations use Newforma products to facilitate collaboration between 500,000 project team members managing over two billion documents in more than one million projects. Newforma software is used to search project data, manage massive amounts of project email, share information securely between all of the companies working on a project, and provide a full audit trail to mitigate risk. The most recent, tenth edition of the Newforma solution supports projects that are being managed on premise, projects that are hosted in the cloud, and a suite of mobile apps for smartphones and tablets.
    Newforma Chief Executive Officer Ian Howell said, “Wherever Newforma has gone – whether North America, the United Kingdom, the Middle East, or in Asia Pacific countries like Australia, New Zealand, Singapore, Malaysia, and the Philippines – AECO organizations have embraced our technology vision for project information management. Our customers value the fact that our products help them access project information and manage project delivery on-premise, in the cloud, and via mobile devices. This additional Series D funding will allow us to accelerate product delivery and expand our market presence as we continue to transform the building design and construction industry.”
    About Newforma
    Newforma develops, sells and supports project information management (PIM) software for architecture, engineering, and construction firms worldwide, and the owners they serve. Newforma is the first industry-focused and integrated solution to connect firms to each other, to their project information, to their processes, and to remote team members, all for the purpose of more successful project delivery. Firms in the Newforma Project Network are using Newforma software to manage information on more than one million projects, raising productivity, reducing exposure to risk, strengthening their brands, and freeing time and attention to focus on design, construction, and client service. For more information about Newforma, visit http://www.newforma.com, or phone +1 603-625-6212.

  • Update on Textura (NYSE: TXTR)

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    On June 6th on the blog, I posted an article
    in which I mentioned PlanSwift’s estimated sales volume (at the time, my
    estimate of PlanSwift’s sales, based on my interpretation of what I’d read in
    Textura’s write-up of its business) – $500k per month, $6 million annualized.
    More recently, Textura held an earnings-call, right
    after it released its most recent quarterly financial results, and, in the
    written transcript of that earnings call, here’s one of the statements
    Textura’s CEO made:
    “Organization driven revenue increased by 235%
    year-over-year to $2.3 million and represented the remaining 25% of our total
    revenue. The drivers here were 79% year-over-year growth and the number of
    organizations to more than 8200, the
    PlanSwift solution accounting for 3,081 of these organizations and $1.5
    million in revenu    e     (in the most recent 3 month period.)
    So, my estimate of PlanSwift’s annualized revenues were
    accurate.
    Moving on, Textura’s stock price has soared since I last
    wrote about the company on Repro 101.
    Today, the market is down,
    Textura is trading at $34.00 per share. 
    That’s considerably more than Textura’s IPO price and considerably more
    that Textura’s closing price the day it went public.
    I noticed this, just a couple of
    days ago.  “Textura Corp Price Target
    Increased to $36.00 by Analysts at Credit Suisse.”         (Article
    found on “UtahPeoplesPost.com”, Posted by     JAGS Staff on
    Aug 12th, 2013)
    Research analysts at Credit Suisse increased their target price on
    shares of Textura Corp (NASDAQ:TXTR) from $33.00 to $36.00 in a report
    released on Friday,     AnalystRatings.Net reports. The firm
    currently has an “outperform” rating on the stock. Credit Suisse’s price target
    suggests a potential upside of 8.27% from the company’s current price.
    A number of other analysts have also recently weighed in on TXTR.
    Analysts at Oppenheimer raised their price target on shares of Textura Corp
    from $35.00 to $36.00 in a research note to investors on Thursday. They now
    have an “outperform” rating on the stock. Separately, analysts at JMP
    Securities initiated coverage on shares of Textura Corp in a research note to
    investors on Monday, July 8th. They set an “outperform” rating and a $38.00
    price target on the stock. Finally, analysts at Barrington Research initiated
    coverage on shares of Textura Corp in a research note to investors on Tuesday,
    July 2nd. They set an “outperform” rating and a $35.00 price target on the
    stock.
    Five equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a
    consensus price target of $33.40.
               
    Shares of Textura Corp (NASDAQ:TXTR) traded up 0.66% during mid-day trading on Friday,
    hitting $33.47. Textura Corp has a one year low of $19.68 and a one year high
    of $33.44. The stock’s 50-day moving average is currently $28.72. The company’s
    market cap is $733.0 million.
    Textura Corp (NASDAQ:TXTR) last released its earnings data on Wednesday, August 7th. The company reported ($0.75) EPS for the
    quarter, missing the Thomson Reuters consensus estimate of ($0.58) by $0.17.
    The company had revenue of $9.40 million for the quarter, compared to the
    consensus estimate of $9.11 million. During the same quarter in the prior year,
    the company posted ($0.38) earnings per share. The company’s quarterly revenue
    was up 64.9% on a year-over-year basis. On average, analysts predict that
    Textura Corp will post $-1.59 earnings per share for the current fiscal year.
    Textura Corporation is a provider of on-demand business collaboration
    software to the commercial construction industry.

    Final comments for
    today’s blog post:
    During the Q&A
    part of the recent earnings call, several of the financial analysts who
    participated in that call were kind of effusive with their congratulations to
    the CEO on the company’s most recent quarterly results.  Quite frankly, I’m never surprised when
    analysts make “buttery” comments to a CEO, but, being to be quite frank,
    Textura’s results, to me, were noting to write home about.  They lost more money than analysts estimated
    would be the case.  This “miss” wasn’t
    close.  And, the (year over year) revenue
    increase, to me, was not-all-that impressive. 
    I guess I should say, “un-spectacular.”
    3 month
    3 month
    period
    period
    3/1-6/30/2013
    3/1-6/30/2012
    (in millions)
    (in millions)
    Gross Revenues
     $9.362
     $5.689
    PlanSwift Revenues
     $1.500
     not applic
     $7.862
     $5.689
     $7.862
     $5.689
    Textura Y-O-Y revenue increase
    38%
    (w/o PlanSwift revenues)
      
    And, Textura’s loss increased substantially.
    So, here
    we’ve got a small company, recently gone public, $2mil increase in
    year-over-year quarter’s sales (if they
    had not acquired PlanSwift    ), substantial increase in quarterly loss, but
    with a huge amount of hype from financial analysts who cover the company.  Today,
    at $34.00 per share, the company’s “market cap” is $778 million.  That’s right, a company with gross annualized
    revenues of around $38 million, losing money, that’s worth $778 million.

  • Webinar from Roland on Wide-Format Printing

    Expand Your Commercial Print Business with Wide-Format Printing
    Tuesday, August 13, 2013  |  9:00 AM – 10:00 AM  |  FREE
    While the commercial printing industry has experienced an overall decline in demand for print over the last 15 years, the demand for wide-format printed graphics is actually increasing. As a result, more and more commercial printers are looking at branching off into wide-format. Doing so, however, can present some distinct challenges.

    If you’re a commercial printer, join us and discover what it takes to successfully enter the lucrative wide-format market.

    You’ll learn about:

    • Wide-format applications and technologies
    • The Economics of Wide-Format
    • Inks and Substrates
    • Finishing
    • Software
    • Applications
    • ROI

  • Service Point Solutions reports financial results for Q2 2013 (and 1st Half 2013)

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    Service
    Point Solutions (the Spain-based public company) filed its 1    st half 2013
    financial-results reports with the Spanish (Bolsa) stock exchange, the other
    day, and, while Sales revenues *plunged on a year-over-year basis and Service
    Point posted a “net loss” for the first six months of 2013, Service Point’s
    EBITDA and EBIT improved, quite a bit, over last year, so a good sign that
    Service Point’s belt-tightening (cost-reduction) program is working.      I still think that Service Point is going to
    be very hard-pressed to achieve revenues of at least 200 million Euros for the
    full year 2013. (*Note that some of the plunge in revenues, year over year,
    resulted from SP pulling out of France.)
    I’ve posted,
    in my Google Docs library, SPS’ Press Release about its first half 2013
    financial results; this report is in Spanish. 
    Here’s the link to that
    version of the report (and, you can download the pdf file if you want to.)
    https://docs.google.com/file/d/0B81al4kFAU9JWW1Ic1VPWVhkLVE/edit?usp=sharing
    If you want
    to translate that report into English, go to Google Translate, drag the
    Spanish-language pdf file into the window, and select “Spanish to English”
    translation.