Autodesk, the parent company of Discreet, announced preliminary financial results for Q1, saying that net revenue would be $227 to $229 million (14 to 16 cents per share).
Most analysts had expected net revenue to be about 24 cents per share. Carol Bartz, chairman and CEO, said that the "difficult economic climate affected our business more than we anticipated late in our April quarter. Our business in Asia fell below our expectations and Discreet continued to experience selling pressure." Shares in Autodesk were down about $3.00, or 17%, after the announcement. Autodesk will announce final Q1 financial results on Thursday, May 16.
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