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## Fiscal 2003 Overview 

Autodesk continued to build its leadership position in the design technology space in fiscal year 2003 through sound business practices and a strong portfolio of innovative, customer-centric products and services. Although the year was defined by a challenging global economic environment, Autodesk held its ground. We protected your investment in us by making careful decisions about how to run our business today, and by laying the groundwork for growth and success tomorrow. 

During fiscal year 2003 the corporate spending environment in the industries we serve was the toughest we’ve seen in a long time. Even for products with rapid returns on investment (ROI) like ours, customers carefully scrutinized every purchase and reduced spending across the board. Despite the 

