Autodesk has reported a sharp drop in profits for the third quarter.

The US software company, which acquired effects and editing manufacturer Discreet Logic earlier this year, saw net profits for the

Autodesk has reported a sharp drop in profits for the third quarter.

The US software company, which acquired effects and editing manufacturer Discreet Logic earlier this year, saw net profits for the quarter collapse to just $1.4 million (£866,765) from $17.6 million (£10.9 million) in the same period the year before. However, the results included a $14.7 million (£9.1 million) restructuring charge as well as acquisition costs of $22.5 million (£13.9 million) relating to the Discreet takeover. Autodesk chief financial officer Steve Cakebread said, excluding these charges, the company would have reported net profits of $16.7 million (£10.3 million) or 27 cents per share. US analysts surveyed by First Call had been predicting profits of around 13 cents excluding the charges.