As we look at our business by geography, revenue performance in the Americas declined 1% and was more significantly impacted by the U.S. market than in previous quarters. Canada and Latin America continued to be relative bright spots for the Americas.

As the financial crisis spread globally, we started to experience economic headwinds in some of our international markets. We saw growth rates slow in many of our Asia-Pacific companies, as compared to growth in the same quarter last year. Despite that, revenue in Asia-Pacific increased 12% as reported and 9% constant currency.

Performance in EMEA remained healthy despite some pockets of weakness. EMEA revenue increased 27% as reported and 20% constant currency. Revenue from emerging markets grew 25% and represented 19% of our total revenue for the quarter. Revenue growth from emerging markets should continue to outpace that of developed countries.

Now let’s take a look at performance by product category. Our model based 3D design solutions -- Inventor, Revit, Civil 3D, NavisWorks, Robobat, and Moldflow increased 26% to $163 million. 3D revenue was 27% of total revenue for the quarter. Excluding revenue of $12 million for Moldflow, our 3D solutions grew 16% to $151 million. We shipped approximately 41,000 commercial seats of these products.

As we mentioned last quarter, we expect to see less correlation between revenue growth and seat growth as we experience changes in our geography mix, product mix, maintenance base, currency exchange, and average selling prices.

Turning to our 2D products, AutoCAD grew 10% and we saw a bounce-back of LT, which grew 12%. Revenue from 2D vertical products decreased 6% as we experienced particularly weak sales of AutoCAD Architecture on a global basis. We attribute the weakness of standalone AutoCAD Architecture to the slow-down in building worldwide and the recent launch of Revit Architecture Suite, which includes AutoCAD Architecture.

Now let me talk about actions we are taking to help stimulate demand for our products. We realize there is no quick or easy response to the current economic environment but we are focused on serving our customers and helping our channel partners in these challenging times. As always, we are focused on licensed compliance as piracy of our software is still pervasive on a global basis. In addition, we are running a number of targeted promotions in an effort to stimulate demand, such as product retirement programs.

During the third quarter we ran a program that offered small rebates on LT and AutoCAD. The real value of this program was to increase the dialog between our channel partners and customers and it was successful in doing just that. Additionally, both LT and AutoCAD experienced good growth in the quarter, so we were pleased with the results of this program and have extended it into the fourth quarter.

To assist our end user customers who are experiencing diminished cash flow and limited financing options, we recently launched a program to offer customers in the United States and Canada financing consisting of deferred payment plus 0% interest. The program is being provided by Key Equipment Finance and others, not by Autodesk.

Now let’s talk about our expense structure -- we recognize that we have to adjust our cost base appropriately for today’s environment. In the third quarter, we began taking actions to reduce our spend, such as implementing a hiring freeze and reducing our discretionary spending. We have extended these actions into the current quarter. We are implementing additional changes in an effort to reduce our operating expenses by approximately 5% in fiscal 2010 as compared to fiscal 2009. You should note that this is approximately 9% off our expected fourth quarter run-rate.

Before we take a closer look at the financials, I will give you another update on our CFO search. The process has certainly taken longer than originally expected and we are still interviewing candidates. If there is one side benefit to the current economic environment, it’s that the pool of interested CFO candidates has been getting larger by the day. As I mentioned last quarter, we have a very deep bench of highly experienced people in our finance organization to bridge this transition.

Now I will turn the call over to Sue for a more detailed discussion of the results.

Sue Pirri

Thanks Carl. Net revenue was $607 million, an increase of 13% as reported and 9% constant currency. Revenue from new seats grew 6%. Total upgrade revenue, including cross-grade, decreased 4%. Maintenance revenue increased 31% to $186 million.

Breaking revenue down by segment, platform solutions increased 11% to $269 million. Revenue from our manufacturing solutions division increased 22% to $124 million. Moldflow contributed approximately $12 million in the quarter. Revenue from our Inventor family of products increased 8%. During the quarter, we shipped approximately 9,000 commercial seats of Inventor and Moldflow and approximately 44,000 seats of our manufacturing products in total.

Our AEC segment increased 8% to $134 million. Revenue from our Revit family of products grew 23%. We shipped approximately 32,000 commercial seats of Revit, Civil 3D, NavisWorks, and Robobat. Sales of Civil3D have been greatly impacted as the AEC market has been hit hard in this environment.

Revenue from our media and entertainment segment was $73 million, an increase of 9%. Revenue from advanced systems was flat. Animation revenue increased 16%, driven by continued strong demand for our 3ds Max product.

Moving to the rest of the income statement, gross margins were 91% on a GAAP basis and 93% non-GAAP. Our operating margin was 23% GAAP and 29% non-GAAP. During the quarter, we adjusted accruals for our annual performance based incentive plans to reflect our current performance. In addition, as Carl mentioned, we reduced our operating expense run-rate by implementing a hiring freeze in October, as well as by reducing discretionary spending. These actions resulted in lower expenses and higher operating margins, net income, and earnings per share than we originally expected.

Our tax rate in the quarter was 23% GAAP and 25% non-GAAP. The lower-than-expected tax rate is due to a foreign tax refund related to prior years.

GAAP diluted earnings per share increased 29% to $0.45. Non-GAAP diluted EPS was $0.56, an increase of 14% over the third quarter of last year.