AutoDesk (ADSK)

[abrooklyn]

AUTODESK, INC. ANNOUNCES FISCAL 2024 FOURTH QUARTER AND FULL-YEAR RESULTS

Source: PR Newswire (US)
- Fourth quarter revenue grew 11 percent, and 14 percent at constant exchange rates, to $1.5 billion

- Fourth quarter current remaining performance obligations grew 13 percent, to $4.0 billion

SAN FRANCISCO, Feb. 29, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter and full year of fiscal 2024.

(PRNewsfoto/Autodesk, Inc.)

All growth rates are compared to the fourth quarter and full year of fiscal 2023, respectively, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.

Fourth Quarter Fiscal 2024 Financial Highlights

Total revenue increased 11 percent to $1.47 billion;
GAAP operating margin was 21 percent, flat compared to the prior period;
Non-GAAP operating margin was 36 percent, flat compared to the prior period;
GAAP diluted EPS was $1.31; Non-GAAP diluted EPS was $2.09;
Cash flow from operating activities was $437 million; free cash flow was $427 million.
"We are undertaking a multi-year process to develop lifecycle solutions, powered by shared platform services, and with Autodesk's Data Model at its core. Together, these will enable Autodesk, its customers, and partners, to create more valuable, data-driven, and connected products and services," said Andrew Anagnost, Autodesk president and CEO. "Having led the industry in generative design, we are leading again in 3D generative AI. Our new multimodal foundation models will enable design and make customers to automate low-value and repetitive tasks and generate more high-value, complex designs more rapidly and with much greater consistency. We can already generate 3D representations from images 10 times faster and with vastly higher quality than currently available 3D AI."

"Autodesk remains resilient and underlying demand for our products and services is robust. As a result, revenue grew 14 percent at constant currency in the fourth quarter," said Debbie Clifford, Autodesk CFO. "Adjusting the mid-point of our guidance to exclude noise from the new transaction model, acquisitions, the absence of EBA true-up revenue, and FX, we expect underlying revenue to grow more than 10 percent in fiscal 25."

Fourth Quarter Fiscal 2024 Additional Financial Details

Total billings decreased 19 percent to $1.71 billion.
Total revenue was $1.47 billion, an increase of 11 percent as reported, and 14 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
Design revenue was $1.22 billion, an increase of 10 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, Design revenue increased 2 percent as reported and on a constant currency basis.
Make revenue was $138 million, an increase of 16 percent as reported, and 17 percent on a constant currency basis. On a sequential basis, Make revenue increased 3 percent as reported and on a constant currency basis.
Subscription plan revenue was $1.34 billion, an increase of 10 percent as reported, and 13 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 2 percent as reported, and 3 percent on a constant currency basis.
Net revenue retention rate was within the range of 100 to 110 percent on a constant currency basis.
GAAP operating income was $315 million, compared to $277 million in the fourth quarter last year. GAAP operating margin was 21 percent, flat compared to the prior period.
Total non-GAAP operating income was $522 million, compared to $479 million in the fourth quarter last year. Non-GAAP operating margin was 36 percent, flat compared to the prior period.
GAAP diluted net income per share was $1.31, compared to $1.35 in the fourth quarter last year.
Non-GAAP diluted net income per share was $2.09, compared to $1.86 in the fourth quarter last year.
Deferred revenue decreased 7 percent to $4.26 billion. Unbilled deferred revenue was $1.84 billion, an increase of $801 million compared to the fourth quarter last year. Remaining performance obligations (RPO) increased 9 percent to $6.11 billion. Current RPO increased 13 percent to $3.98 billion.
Cash flow from operating activities was $437 million, a decrease of 474 million compared to the fourth quarter last year. Free cash flow was $427 million, a decrease of $476 million compared to the fourth quarter last year.
Net Revenue by Geographic Area

[Monksdream]

ADSK new 52 week high

[Monksdream]

ADSK new 52 week high

[Monksdream]

ADSK new 52=week high

[Monksdream]

ADSK new 52 week high

[Monksdream]

ADSK new 52 week high

[bwrbad]

sudden change in manipulating mind - sure not AI activity, AI prefer to take it over 233 -245 by Q end

[bwrbad]

acting like a falling knife even after earning beat by good margin

[bwrbad]

is this a US or US base foreign Company

[abrooklyn]

AUTODESK, INC.
FORM 10-K
(Annual Report)
Filed 03/14/23 for the Period Ending 01/31/23

https://www.otcmarkets.com/filing/conv_pdf?id=16489064&guid=GfA-kapzYHUjQth

[abrooklyn]

Fiscal 2023 Financial Highlights
• Total billings increased 20 percent to $5.80 billion.
• Total revenue was $5.01 billion, an increase of 14 percent as reported, and 15 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
• Design revenue was $4.26 billion, an increase of 13 percent as reported, and 14 percent on a constant currency basis.
• Make revenue was $452 million, an increase of 24 percent as reported, and 25 percent on a constant currency basis.
• Subscription plan revenue was $4.65 billion, an increase of 15 percent as reported and on a constant currency basis.
• Total subscriptions increased approximately 702 thousand from fiscal 2022 to 6.74 million at the end of fiscal 2023. Total subscriptions adjusted for the multi-user trade-in increased approximately 603 thousand from fiscal 2022 to 6.25 million.
• Subscription plan subscriptions increased 724 thousand from the end of fiscal 2022 to 6.74 million at the end of fiscal 2023.
• GAAP operating income was $989 million, compared to $618 million last year. GAAP operating margin was 20 percent, up 6 percentage points.
• Total non-GAAP operating income was $1.79 billion compared to $1.40 billion last year. Non-GAAP operating margin was 36 percent, up 4 percentage points.
• GAAP diluted net income per share was $3.78, compared to $2.24 last year.
• Non-GAAP diluted net income per share was $6.63, compared to $5.07 last year.
• Cash flow from operating activities increased to $2.07 billion, compared to $1.53 billion in fiscal 2022. Free cash flow increased to $2.03 billion, compared to $1.48 billion in fiscal 2022.

[abrooklyn]

AUTODESK, INC.
FORM 8-K
(Current report filing)
Filed 02/23/23 for the Period Ending 02/23/23

https://www.otcmarkets.com/filing/conv_pdf?id=16428692&guid=Cs4-kWJiMHfPdth

AUTODESK, INC. ANNOUNCES FISCAL 2023 FOURTH QUARTER AND FULL-YEAR RESULTS
- Record quarterly and full-year revenue, cash flow from operating activities, and free cash flow
- Fourth quarter billings and current remaining performance obligations grew 28 percent and 12 percent year over year, respectively, to $2.1 billion and $3.5 billion
SAN FRANCISCO, FEBRUARY 23, 2023-- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter and full year of fiscal 2023.
All growth rates are compared to the fourth quarter and full year of fiscal 2022, respectively, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.
Fourth Quarter Fiscal 2023 Financial Highlights
• Total revenue increased 9 percent to $1.32 billion;
• GAAP operating margin was 21 percent, up 9 percentage points;
• Non-GAAP operating margin was 36 percent, up 1 percentage point;
• GAAP diluted EPS was $1.35; Non-GAAP diluted EPS was $1.86;
• Cash flow from operating activities was $911 million; free cash flow was $903 million.
“As we deliver next-generation technology and services to our customers, the pace of transformation within and between the industries we serve will accelerate, generating large new growth opportunities for Autodesk,” said Andrew Anagnost, Autodesk president and CEO. “We started seeing the shift towards connected digital workflows in the cloud in product design and manufacturing, then in architecture, followed by building engineering, and more recently construction. And we are now seeing growing momentum with owners.”
“Overall, the demand environment in Q4 remained consistent with Q3 with the approaching transition from up-front to annual billings for multi-year contracts, and a large renewal cohort, providing a tailwind to billings and free cash flow,” said Debbie Clifford, Autodesk CFO. “We continue to develop broader strategic partnerships with our customers, closing our largest deal to date during the quarter. Our strong momentum and competitive performance set us up well for fiscal 24.”
Fourth Quarter Fiscal 2023 Additional Financial Details
• Total billings increased 28 percent to $2.12 billion.
• Total revenue was $1.32 billion, an increase of 9 percent as reported, and 12 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
• Design revenue was $1.11 billion, an increase of 9 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, Design revenue increased 2 percent as reported and on a constant currency basis.
1

• Make revenue was $119 million, an increase of 20 percent as reported, and 21 percent on a constant currency basis. On a sequential basis, Make revenue increased 2 percent as reported and on a constant currency basis.
• Subscription plan revenue was $1.21 billion, an increase of 11 percent as reported, and 14 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 2 percent as reported and on a constant currency basis.
• Net revenue retention rate was within the range of 100 to 110 percent.
• GAAP operating income was $277 million, compared to $143 million in the fourth quarter last year. GAAP operating margin was 21 percent, up 9 percentage points.
• Total non-GAAP operating income was $479 million, compared to $421 million in the fourth quarter last year. Non- GAAP operating margin was 36 percent, up 1 percentage point.
• GAAP diluted net income per share was $1.35, compared to $0.40 in the fourth quarter last year.
• Non-GAAP diluted net income per share was $1.86, compared to $1.50 in the fourth quarter last year.
• Deferred revenue increased 21 percent to $4.58 billion. Unbilled deferred revenue was $1.04 billion, an increase of $94 million compared to the fourth quarter of last year. Remaining performance obligations (RPO) increased 19 percent to $5.62 billion. Current RPO increased 12 percent to $3.52 billion.
• Cash flow from operating activities was $911 million, an increase of $189 million compared to the fourth quarter last year. Free cash flow was $903 million, an increase of $187 million compared to the fourth quarter last year.

[abrooklyn]

FORM 8-K
(Current report filing)
Filed 12/15/22 for the Period Ending 12/15/22

https://www.otcmarkets.com/filing/conv_pdf?id=16261726&guid=Uh7-knSQbFKAdth

[abrooklyn]

FORM 10-Q
(Quarterly Report)
Filed 12/06/22 for the Period Ending 10/31/22

https://www.otcmarkets.com/filing/conv_pdf?id=16246196&guid=Uh7-knSQbFKAdth

[TFMG]

$ADSK | #Autodesk Earnings Bullish Targets



Stock enters earnings within a 3 month congestion channel phase, with indicators all turning bullish .
Potential Targets
$273.50 is measured channel move (100% of current channel)
$260-266 Local Fibonacci expansion target zone.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.

[whytestocks]

News: $ADSK Construction Growth Powers Autodesk's Results

Computer-assisted design (CAD) pioneer and design and project software provider Autodesk (NASDAQ: ADSK) released fiscal third-quarter earnings results on Tuesday after the market close. Shares of the technology investment were trading up roughly 4% at midday on Wednesday as investors endor...

Got this from ADSK - Construction Growth Powers Autodesk's Results

[NewMoney]

Broke resistance!

[cjstocksup]

Out ADSK afterhours at $130's. Love afterhours good earnings.

[stocktrademan]

ADSK buy 107.16

















normal chart




log chart

[ITMS]

Autodesk Inc (NASDAQ:ADSK) Hit The Skids

This morning, leading design software and services company, Autodesk, Inc. (NASDAQ:ADSK), is trading lower by nearly 15.0 percent on the session. The decline comes after the company reported earnings and announced a restructuring plan. Traders should note that ADSK stock is now trading below its important 50-day moving average. This puts the stock in a weak technical chart position.

Often when a stock declines this sharply from a high pivot it will indicate lower prices in the coming weeks. The next major chart support level for ADSK stock is around the $96.00 level. This area is where the stock broke out in May 2017. Generally, when a stock retests its breakout level it will be defended when retested.



Nicholas Santiago
InTheMoneyStocks

[Glider549]

He said to wait for a dip but he pushed it hard last February.

[Trueheart]

Cramer insisted that I buy shares in this company---for the second time in a week.

Trueheart

[ValueInvestor15]

ADSK trading well above its fair value before reporting earnings today: analysis

[ValueInvestor15]

BofA reiterated its Sell rating on ADSK today. Shares seem to be trading at a large premium

VALUATION MODELS

[skietz]

Hearing rumors Microsoft may be interested in a take over of ADSK to cement Microsoft's position in the augmented reality space.

[One_Life83]

I now own 1 share of ADSK. Good Investing here.

[maytepper]

Autodesk: Investors Are Likely To See Reasonably Good 12-month Upside, Says Wedbush http://www.smarteranalyst.com/2014/08/15/autodesk-investors-are-likely-to-see-reasonably-good-12-month-upside-says-wedbush/

[IcePickr]

ADSK New 52 Wk high

[JhonDelao]

Looking great after earning, on its way to $50 per share

[JhonDelao]

Goldman Sacks price target 50 dollars
link http://finance.yahoo.com/news/goldman-sachs-10-stocks-buy-121027613.html

[JhonDelao]

ADSK reaches $45 easily, uptrend has only started

[ralph4]

and it has a market cap of 8 billion!

[ralph4]

ADSK has 7,300 employees.

[ralph4]

Motley Fool has done a research report on 3D printing and recommending a strong buy in this sector could be hugely profitable. Anybody have an opinion on the matter? I think it could be the real deal!

[ralph4]

hmm, thinking about an entry here. might try to get in under $35 and hold until the end of the year...

[ECole]

Bank-of-America-Merrill-Lynch Conference in detail

Read here in detail.. conf transcript
Read here

[JhonDelao]

Wow. Time to BUY. Cannot believe stock went SO CHEAP. Looking forward for $37-$38 bounce back

[BiotechValues]

ADSK currently down 6% in afterhours after a disappointing 1st quarter filing

http://3dstockhub.com/forum/showthread.php?tid=9&pid=11#pid11

[BiotechValues]

new 3D Printing Stocks board on ihub

Please join the conversation about stocks like ADSK in the explosive growth 3D Printing space!

http://investorshub.advfn.com/3D-Printing-Stocks-26590/

[MaryHip]

Uh-oh...Not good... Failed to rally above last top yesterday and stochastics pointing to big DOWN IMO...already in motion and accelerating...Bottom about $25 IMO...

[kurt_vdh]

Aug 24 (Reuters) - Autodesk Inc :

* UBS cuts Autodesk Inc price target to $36 from $40; rating buy

[kurt_vdh]

Aug 24 (Reuters) - Autodesk Inc :

* ThinkEquity raises Autodesk Inc price target to $47 from $36; rating

buy

[kurt_vdh]

Aug 24 (Reuters) - Autodesk Inc :

* ThinkEquity raises Autodesk Inc price target to $47 from $36; rating

buy

[tradersplaybook]

Playbook game plan for ADSK on 12/22/2011

Here's our thoughts:

[Da Ghost]

ADSK



ww

[Komando Robot]

no post in 2 years til now

[PENNY_STOCKS]

Autodesk Achieves One Billion Location Transactions Milestone with Oracle Products and Services




Autodesk, Inc. (NASDAQ:ADSK) today announced that its Autodesk LocationLogic platform and Autodesk Insight and Family Minder applications, based on Oracle software, have surpassed the one billion transaction threshold for providing wireless subscribers with valuable location-sensitive data. Autodesk is committed to delivering secure location information to mobile users, and its collaboration with Oracle has enabled the company’s offerings to repeatedly meet the needs of users seeking maps, routes, geocodes and points of interest (POIs).

“Using Oracle in our technology stack enables us to meet our wireless customers’ high service level agreement (SLA) commitments with 99.999 percent uptime and process more than one billion transactions for users of location-based services,” said Joe Astroth, vice president and general manager, Autodesk Location Services. “As a key partner for building location enabling technologies, Autodesk highly values its longstanding relationship with Oracle and the company’s comprehensive range of open, scalable spatial products.” Autodesk LocationLogic, based on the flexible and reliable Oracle WebLogic Server, is the platform of choice for tier one carriers in the United States and abroad. LocationLogic provides Geo-Services such as mapping, routing, geocoding, directory searches and location-based alerts. The platform also includes a Location Gateway with location determination APIs, privacy management, and intelligent geofencing. The entire platform is hosted by Autodesk, allowing wireless carriers and application developers to deploy services quickly and reliably. Oracle Spatial and Oracle Database provide LocationLogic with an open, native, high-performance spatial analysis platform for location data with an easy to manage, scalable infrastructure.

Autodesk Insight, an on-demand mobile resource management solution that allows businesses to locate their field workers in real time, and Autodesk Family Minder, a family-centric application that provides parents and guardians with the location information of their loved ones, utilize the Autodesk LocationLogic platform for providing location-enabling services via wireless networks.

"Autodesk produces some of the most advanced location enabling software and solutions in the market, and Oracle is proud to play a role in their product innovation,” said Jim Steiner, senior director, Oracle. "Oracle and Autodesk are eager to continue their partnership to produce more advanced location aware solutions that will continue to serve the needs of wireless customers.” About Autodesk Location Services Autodesk Location Services, a division of Autodesk, Inc., is a leading provider of location-based services for mobile and wireless customers. With a complete range of solutions including platform software, application frameworks and professional services, Autodesk Location Services delivers market-proven technology and expertise to empower applications developers and wireless network operators with scalable and cost effective location smart services.

About Autodesk Autodesk, Inc., is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art Digital Prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit www.autodesk.com.

Autodesk, AutoCAD and LocationLogic are registered trademarks or trademarks of Autodesk, Inc., in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

© 2008 Autodesk, Inc. All rights reserved.

[DEMO P2]

AUTODESK IS GOING TO BE ON TV

Reuters News September 4, 2008

[video] Stocks Covered on This Week's Episode of WallSt.net's News Magazine: HCPC, EXOU, ALSE, COOL, ADG, CHKP, ADSK, BZP, EAG, CSCO


PR Newswire 7:00 am September 5, 2008

NEW YORK, Sept. 5 /PRNewswire-FirstCall/ -- WallSt.net's News Magazine is a half-hour television program that is scheduled to air on Sundays at 5:30 p.m. EDT (2:30 p.m. PDT) on the Fox Business Network.

The show features compelling interviews with public company CEOs, informative trading strategies from investment professionals, and the latest headlines from public companies from around the world.

Episodes of WallSt.net's News Magazine can also be viewed in their entirety on the Web at: http://tv.wallst.net/news-magazine/news-magazine.php.

The following companies will be featured on this Sunday's program: -- Heritage Capital Credit Corp. (Pink Sheets: HCPC) -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU) -- Avasant (Private) -- Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE) -- Majesco Entertainment Co. (Nasdaq: COOL) -- The Allied Defense Group, Inc. (Amex: ADG) -- Check Point Software Technologies Ltd. (Nasdaq: CHKP) -- AutoDesk, Inc. (Nasdaq: ADSK) -- BPZ Resources, Inc. (Amex: BZP) -- American Defense Systems, Inc. (Amex: EAG) -- Cisco Systems, Inc. (Nasdaq: CSCO) About WallStreet Direct, Inc.

WallStreet Direct, Inc. owns and operates WallSt.net (http://www.wallst.net), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio (http://radio.wallst.net), an online hub for business podcasts from well-known business news personalities and publishers, and WallStTV (http://tv.wallst.net), a hub for business and finance video programming. WallStreet Direct, Inc. has received five hundred sixty dollars from Integral Systems, Inc. for media and advertising services. WallStreet Direct, Inc. has received four hundred thousand restricted shares of EXOU from Exousia Advanced Materials, Inc. for media and advertising services. WallStreet Direct, Inc. has received eleven thousand seven hundred fifty dollars from Avasant, and is expecting to receive an additional twenty thousand dollars from Avasant for media and advertising services. WallStreet Direct, Inc. has received fourteen thousand eight hundred ninety five dollars from Heritage Capital Credit Corp. for media and advertising services. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.php.

Contact:

WallStreet Direct, Inc.

800-4-WALL-ST

SOURCE WallStreet Direct, Inc.; Heritage Capital Credit Corp.; Exousia Advanced Materials, Inc.; Alseres Pharmaceuticals, Inc.; Majesco Entertainment Co.; The Allied Defense Group, Inc.; Check Point Software Technologies Ltd.; Autodesk, Inc.; BPZ Resources, Inc.; American Defense Systems, Inc.; Avasant; Cisco Systems, Inc.

[pinoleropuro]

this thing could go to close to $39-$40 to meet with the 200MA.
just my opinion

[PENNY_STOCKS]

Autodesk Reports Record Revenue of $620 Million in its Second Quarter of Fiscal 2009

SAN RAFAEL, Calif., Aug. 14 /PRNewswire-FirstCall/ -- Autodesk, Inc. (NASDAQ:ADSK) today reported revenue of $620 million for the second quarter of fiscal 2009, an increase of 18 percent over the second quarter of fiscal 2008. GAAP diluted earnings per share in the second quarter increased 3 percent to $0.39, compared to $0.38 per diluted share in the second quarter last year. Non-GAAP diluted earnings per share in the second quarter increased 27 percent to $0.56, compared to $0.44 per diluted share in the second quarter last year. A reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

"We're very pleased that Autodesk was able to achieve another quarter of record revenue results," said Carl Bass, Autodesk president and CEO. "Our ability to serve diverse business segments globally with leading software design and engineering solutions drove our strong performance. The combination of a strong market position, industry and geographic diversification, a strong balance sheet, and excellent cash flow, positions Autodesk for continued success."

Operational Highlights

In addition to favorable currency exchange rates, Autodesk's performance in the second quarter of fiscal 2009 was driven by continued revenue growth of model-based 3D design solutions, 2D vertical products, emerging economies, as well as total upgrade and maintenance revenue growth.

Combined revenue from the Company's model-based 3D solutions, which includes Inventor, Revit, Civil 3D, NavisWorks, Robobat, and Moldflow, increased 36 percent over the second quarter of fiscal 2008 to $166 million and comprised 27 percent of total revenue for the quarter. Excluding Moldflow, which was acquired during the quarter, model-based 3D solutions grew 31 percent to $159 million. Autodesk shipped approximately 36,000 commercial seats of its model-based 3D design products, including approximately 10,000 commercial seats of Inventor and 26,000 seats of its Architecture Engineering and Construction products -- Revit, Civil 3D, NavisWorks, and Robobat. In addition, revenue from 2D vertical products increased 16 percent compared to the second quarter of fiscal 2008.

Revenue from the emerging economies increased 40 percent over the second quarter of fiscal 2008 to $114 million and represented 18 percent of total revenue. EMEA revenue was $267 million, an increase of 31 percent as reported over the second quarter of fiscal 2008, and 15 percent at constant currency. Revenue in Asia Pacific was $150 million, an increase of 18 percent as reported year-over-year, and 11 percent at constant currency. Revenue in the Americas increased 4 percent over the second quarter of fiscal 2008 to $203 million, despite continued economic headwinds.

Upgrade revenue and maintenance revenue combined increased 34 percent over the second quarter of fiscal 2008 to $238 million. Maintenance revenue increased 36 percent compared to the second quarter of fiscal 2008 to $180 million, or 29 percent of total revenue. Deferred maintenance revenue increased $14 million sequentially and $132 million compared to the second quarter of fiscal 2008. Total upgrade revenue increased 27 percent compared to the second quarter of fiscal 2008.

Business Outlook

The following statements are forward-looking statements which are based on current expectations and which involve risks and uncertainties some of which are set forth below.

Third Quarter Fiscal 2009

Net revenue for the third quarter of fiscal 2009 is expected to be in the range of $625 million and $635 million. GAAP earnings per diluted share are expected to be in the range of $0.40 and $0.42. Non-GAAP earnings per diluted share are expected to be in the range of $0.54 and $0.56 and exclude $0.07 related to stock-based compensation expense and $0.07 for the amortization of acquisition related intangibles.

Fourth Quarter Fiscal 2009

Net revenue for the fourth quarter of fiscal 2009 is expected to be in the range of $660 million and $680 million. GAAP earnings per diluted share are expected to be in the range of $0.52 and $0.56. Non-GAAP earnings per diluted share are expected to be in the range of $0.64 and $0.68 and exclude $0.08 related to stock-based compensation expense and $0.04 for the amortization of acquisition related intangibles.

Full Year Fiscal 2009

For fiscal year 2009, net revenue is expected to be in the range of $2.50 billion and $2.53 billion. Full year GAAP earnings per diluted share are now expected to be in the range of $1.72 and $1.78. Non-GAAP earnings per diluted share are still expected to be in the range of $2.24 and $2.30 and exclude $0.29 related to stock-based compensation expense and $0.23 for the amortization of acquisition related intangibles and in-process research and development expense.