Adobe Exceeds Profit Expectations
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Adobe Systems, the worldâs largest maker of design software, reported quarterly results and targets ahead of Wall Street expectations on strong sales of its updated suite of products.
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Software maker Adobe reported a strong financial finish to its 2007 fiscal year with revenue up 23 percent for the year and 34 percent for the fourth quarter on sales of its CS3 (Creative Suite 3) and Acrobat software, the company said Monday.For its fourth quarter ended Nov. 30, Adobe reported record revenue for a three-month period of $911.2 million, compared with $682.2 million for the same time period last year. Revenue beat estimates from analysts polled by Thomson First Call, who were expecting the company to bring in $837 million in the quarter.For the fiscal year ended at the same time, Adobe reported revenue of $3.16 billion, also a record for the company, compared with $2.58 billion last year. Adobe&#39;s net income for the quarter was $222.2 million, a 21 percent increase over the $183.2 million reported in the fourth quarter of fiscal 2006. For the year, net income was up 43 percent at $723.8 million, compared with $505.8 million in fiscal 2006.Diluted EPS (earnings per share) for the fourth quarter of fiscal 2007 were $0.38, slightly above the company&#39;s own range of $0.35 to $0.37, and a 27 percent increase over diluted EPS of $0.30 for the same period last year. Diluted EPS for the year was $1.21, a 46 percent increase over EPS of $0.83 in 2006.A strong end to fiscal 2007 is fitting for what turned out to be a banner year for the publishing and design software vendor. The company released CS3, a combination of its own graphics creation products and Web design and multimedia tools that&#160;it acquired from Macromedia. It is the first real blend of the two companies&#39; complementary technologies in one suite.CS3 so far has been well-received by the creative Web and production design community that has been loyal to both Adobe and the former Macromedia for years, making Adobe the leader among those customers. However, this position also inspired more competition in 2007, most notably from software giant Microsoft, which came out with its Expression suite to rival CS3, as well as new cross-browser software called Silverlight to compete with Adobe&#39;s ubiquitous Flash multimedia technology.2007 also saw&#160;longtime Adobe CEO Bruce Chizen step down at the end of the fiscal year. He made the move as part of a planned transition and so he could pursue other career endeavors. Shantanu Narayen, former president and COO, is now chairman and CEO of the company.Adobe also provided on Monday estimates for its first quarter of fiscal 2008, which ends in February. The company expects revenue between $855 million and $885 million and EPS between $0.34 and $0.36 for the quarter. For fiscal 2008, the company reiterated its target annual revenue growth rate of about 13 percent, which it previously announced.
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Oracle reported second-quarter 2005 earnings that beat analyst expectations on Monday, thanks to new software revenue and continued gains from licence updates and product support.
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Retailer Office Depot Inc. ODP.N  on Thursday posted a higher quarterly profit, thanks to  improved sales and profitability at its North America business,  beating analysts' expectations and sending shares higher.
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Adobe Systems Inc.  reported on  Thursday that quarterly profit grew 16 percent, meeting  forecasts on higher sales of design software, and it reassured  investors that new products are on schedule, sending its shares  up 6 percent.
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Adobe Systems Inc. reported record fourth-quarter revenue and an increase in profit of 16 percent, thanks in part to strong sales of the newest version of digital document software Acrobat.
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Adobe reported that its net income hit $205.2 million, up 117 percent from the same quarter last year.
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Xerox Corp , the world's biggest supplier of office printers, copiers and related services, on Friday posted better-than-expected quarterly earnings, boosted by solid gains in equipment sales.
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The company reported strong second-quarter results and said its profits for all of 2007 would beat analystsâ expectations.
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Computer Associates International Ltd. , the software maker under government watch after an accounting scandal, on Wednesday posted better-than-expected quarterly results and said full-year earnings will exceed Wall Street estimates, helped by cost-cutting.
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Adobe Systems Inc.'s income rose 62 percent in its latest quarter on stronger-than-anticipated revenue growth.
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Desktop publishing software maker Adobe saw its profits climb 24% in its second quarter on the back of healthy sales of its new Creative Suite 3 product.
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Shares of Adobe Systems Inc. rose more than 3 percent in the extended session after the software company reported better-than-expected third-quarter profit.
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Shares of Adobe Systems Inc. shot up 4 percent in the extended session after the software company reported better-than-expected third-quarter profit and predicted similar results for the fourth quarter.
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US software firm Adobe sees fourth-quarter profit jump 21% on the back of strong sales.
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Adobe Systems Inc. , the top maker of graphic and Web design software, reported quarterly net profit rose 24 percent, aided by recent upgrades to its two big product lines.
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Oracle Corp. reported second-quarter 2005 earnings that beat analyst expectations on Monday, thanks to new software revenue and continued gains from license updates and product support.