Autodesk is probing itself to see if it did any stock option no-nos. The share price fell nearly 5% on the news.
During the second quarter, Autodesk began a voluntary review of its stock option grant practices and related accounting, given that such probes have swept through the technology industry, reported Michael Kahn of Reuters.
Although new CEO Carl Bass had the cheery news that revenues were higher than ever (up 2% to US$455 million), he couldn't say what the income was. He also didn't know when the stock option review would be complete.
The company hopes to make $1.82 - 1.85 billion this year. That means Autodesk could become a two-billion-dollar company next year. It's pulling away like a racehorse among a pack of Clydesdales.
Bass sees no reason for the SEC to examine Autodesk's books over backdated stock options. I would expect other CAD companies to also announce they're checking their records -- just in case.
I will continue to visit enjoyed the reading thanks
Posted by: Alena | Aug 18, 2006 at 11:06
I don't ever remember reading posts on when to dump stock in the newsgroups.
Unless some of the posts were written in code and you had to spray your monitor with lemon juice and heat it up with a hair dryer to truly see the information. Hmmm......
Posted by: Mike | Aug 18, 2006 at 08:25
And with that news, they announce they're closing down their discussion newsgroups for the weekend (um..for 'maintainence').
Posted by: Tony Tanzillo | Aug 17, 2006 at 20:03