Autodesk cuts earnings outlook for 2009

The design software maker now expects to earn $1.78 per share to $1.88 per share in fiscal 2009. Last month, the company forecast profit of $1.81 per share to $1.91 per share.

The new profit forecast assumes higher stock compensation costs. Excluding these and other unusual costs, Autodesk still expects to earn $2.20 per share to $2.30 per share.

Autodesk affirmed its target for sales of $2.45 billion to $2.5 billion this year.

For the fiscal second quarter, Autodesk expects profit of 40 cents to 42 cents per share, compared with a previous estimate of 42 cents to 44 cents per share. The company estimates sales of $600 million to $610 million.

For the fiscal third quarter, the company expects profit of 42 cents to 45 cents per share. Sales are estimated at $605 million to $620 million.

Autodesk shares fell 34 cents to $40.60 in aftermarket trading. they closed at $40.94 in the regular session.