Divisional Review  Autodesk is divided into two business seg- ments: the Design Solutions Group, which contains our core competency of design tech- nology, and Discreet, our entertainment group. Discreet Design Solutions Group From special effects at the movies to larger- than-life computer and console games, Discreet delivers digital content creation, visual effects, editing, and 3D streaming media applications. Net revenues for Discreet were $129 million in fiscal 2003—down 17 percent from $156 million last year. Sales were affected by the severe economic slowdown in the media, advertising, and entertainment sectors. Part of the decline was also due to the timing of our new product releases that shipped late in the year. As a result of lower sales figures, Discreet took action to scale its business to the reduced revenue level, lowering staff levels and operating costs. The division launched important new versions of our advanced systems for high-end visual effects and editing.These releases—including inferno, flame, and flint—position Discreet well for success in fiscal 2004. For the eighth year in a row, the creators of all the nominees for the Academy Award for Visual Effects used Discreet’s visual effects compositing system, demonstrating Discreet’s wide adoption in its target industries. Developer of AutoCAD and AutoCAD LT soft- ware, the Platform Technology Division (PTD) continues to provide a foundation for many products in the core design markets. In fiscal 2003, PTD focused its efforts on research and development of AutoCAD 2004 (released in Q1 of fiscal 2004), the fastest, easiest AutoCAD ever. Net revenues for this division were $401 million, off 13 percent from last year. Net revenues for MSD totaled $119 million, down 9 percent from the previous year, as  customers tightened overall spending and specifically delayed technology purchases. The division made a strategic acquisition of truEInnovations, which has file and data man- agement technology that will provide vaulting capabilities to our existing product line. Significant gains in MSD included over 150 percent growth of the installed base of the Autodesk Inventor Series, the flagship 3D  Companies in the manufacturing industry face a specific set of challenges: global markets and competition, mass-specialization, a tough macro- economic environment, and, most basically, the need to reduce costs and accelerate time to market.With an array of products and services designed to deliver faster ROI and simplified product development, the Manufacturing Solutions Division (MSD) launched its strategy of bringing product lifecycle management (PLM) to the mainstream market. In fiscal 2003, DSG focused on developing great desktop design products and creating solutions to address lifecycle management of the data that customers create with our tech- nologies.We know that for every person who creates digital design data, an estimated 7  to 10 people use that data downstream. Companies trying to improve efficiency are paying close attention to how data flows through their organizations.This represents  a tremendous opportunity for Autodesk, because our solutions will help customers make the most of the ways they share and manage data. Composed of the Platform Technology Division, the Manufacturing Solutions Division, the Building Solutions Division, and the Infrastructure Solutions Division (formerly known as the Geographic Information Systems Division), the Design Solutions Group (DSG) represented 84 percent of total net revenues in fiscal year 2003, or $696 million—an annual decrease  of 12 percent. Feedback on the AutoCAD 2004 family of products ranges from positive to glowing. In addition, Autodesk’s Design Web Format (DWF), as well as the DWF-based Autodesk Express Viewer, are gaining widespread adop- tion as a smart and secure way to share critical design information across widely dispersed project teams.The free viewer has been down- loaded more than a quarter million times in its first two months of availability, allowing users downstream to share digital design data more easily and laying the groundwork for Autodesk in the lifecycle management market. MANUFACTURING SOLUTIONS DIVISION PLATFORM TECHNOLOGY DIVISION AND OTHER 4 FY  03 Autodesk, Inc.