UPDATE 2-Autodesk cuts outlook, reports flat profit

(Adds analyst comment on slowing growth in the United States)

By Jim Finkle

BOSTON, Feb 26 (Reuters) - Autodesk Inc (ADSK.O) cut its profit outlook and said sales growth in the United States slowed considerably in its most-recent quarter, sending shares of the engineering software maker down 12 percent on Tuesday.

A company spokeswoman declined to comment on the reason for its weaker outlook for the first quarter and full year. She said executives would discuss the matter during a conference call scheduled for 5 p.m. New York time.

Sales in the Americas grew 2 percent year-on-year during the quarter, down from 12 percent in the third quarter. That growth rate has been averaging in the mid-teens, said Steve Ashley, an analyst with Robert Baird & Co.

Its forecasts call for revenue to be in line with previous forecasts, as rising sales in Europe and other overseas markets are likely compensating for weaker U.S. growth, Ashley said.

It has higher margins on sales in the United States than in Europe, where expenses are higher, so those European sales translate into a lower profit margin, he said.

The company also released fourth-quarter profit on Tuesday that was unchanged from the year-earlier period. It had net income of $96 million, or 40 cents per share, during the period, the same as a year earlier.

The company said it now expects first-quarter profit excluding items of 46 cents to 48 cents per share on revenue of $575 million to $585 million.

In November it forecast first-quarter profit of 50 cents to 52 cents a share and revenue of between $575 million and $585 million.

It forecast full-year profit excluding items of $2.15 to $2.25 per share on revenue of $2.425 billion to $2.475 billion. In November it forecast profit per share excluding items of $2.20 to $2.26 on revenue of $2.425 billion to $2.475 billion.

Its shares were at $34.42 in after-hours trading, down from a Nasdaq close of $39.10. (Editing by Phil Berlowitz and Braden Reddall)