After Cutting Waste, Autodesk Enjoying Huge Growth Spurt; Share Prices At Record Level; Design software company benefiting from a shift to 3-D graphics in simulations.(INTERNET & TECHNOLOGY)

Byline: J. BONASIA

Autodesk, which makes design software for engineers, has engineered one of the brightest tech stock performances so far this year.

In June Autodesk's market cap and share price hit their highest levels since the company went public in 1985. And the firm is on track to break the $1 billion revenue mark for the first time this fiscal year -- a milestone achieved by very few software vendors.

Autodesk of San Rafael, Calif., notched record sales of $952 million last fiscal year, which ended Jan. 31. And fiscal first-quarter profits rose 486% over the prior year to 41 cents per share on sales of $298 million.

During the past year, Autodesk has focused on shedding waste and inefficient spending, says Al Castino, chief financial officer. At the same time, the company's benefited from an important new product release just as the tech market was rebounding.

"Improved productivity and growth go hand in hand," Castino said. "New savings have freed up money to invest in growth."

Six million architects, designers and engineers use Autodesk's flagship AutoCad product -- computer-aided design software. The latest version, AutoCad 2005, includes lots of new 3-D features.