Autodesk Rises In Pre-Market After Raising Q1 And FY09 Forecasts [ADSK]

Autodesk (ADSK) climbed in pre-market trading, up nearly 10 percent. The advance came after the company boosted its first-quarter and 2009 fiscal year outlooks.

The stock was up $3.40 just before 8:25 am ET, rising to $38.95. If pre-market gains hold, the stock will open at its highest level since late February.

Autodesk raised its first-quarter revenue forecast to a range between $590 million and $595 million from the previously provided guidance of $575 million - $585 million. Street analysts estimate revenue of $578.13 million for the first quarter.

The company also increased its GAAP earnings per diluted share outlook to a range of $0.37 - $0.38 from prior estimate of $0.35 - $0.37.

Non-GAAP earnings per diluted share are now expected to be in the range of $0.47 - $0.48, higher than earlier estimate of $0.46 - $0.48. Analysts expect earnings of $0.47 per share for the first quarter.