Adobe Systems' profit up 37% on Acrobat and Photoshop sales
SiliconValley.com via Yahoo! News
June 18, 2005
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Adobe Systems said Thursday that its second-quarter profit rose 37 percent as the San Jose maker of Acrobat and Photoshop reported strong sales of its most popular software.
The maker of the portable document format (PDF) technology announced a fiscal second-quarter profit of $149.8 million, or 29 cents a share, compared with a profit of $109.4 million, or 22 cents a share, in the same period of 2004.
Adobe reported revenue for the quarter, which ended June 3, of $496 million, up 21 percent from $410 million in the year-ago period.
Excluding special items, such as taxes on some revenue from abroad, the software company earned $142.9 million, or 28 cents a share.
Analysts surveyed by Thomson Financial expected Adobe to earn an average of 27 cents a share on revenue of $491.7 million.
``I'm thrilled about the quarter,'' Chief Executive Bruce Chizen said in an interview with the Mercury News. ``Not too many software companies have had eight consecutive quarters of double-digit growth -- and of our size, I can't think of any.''
Looking ahead to the third quarter, Adobe predicted that earnings would range from 25 cents to 27 cents a share on revenue of $470 million to $490 million.
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SiliconValley.com via Yahoo! News