Adobe sees revenue, earnings rise

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Adobe Systems Inc.'s financial results for its second quarter that ended May 30 came in at the high end of the company's prior revenue and earnings per share target ranges. The results have been attributed to the release of the Acrobat 6 product line, which drove a 43 percent year-over-year revenue growth.

Adobe achieved revenue of US$320.1 million in the quarter; this compares to $317.4 million in the second quarter of fiscal 2002 and $296.9 million in the first quarter of fiscal 2003. Adobe's revised second quarter revenue target range was $305 to $320 million, up from its prior target range of $300 to $315 million.

GAAP (Generally Accepted Accounting Principles) diluted earnings per share for the second quarter of fiscal 2003 were $0.27. GAAP net income was $64.2 million for the second quarter of fiscal 2003, compared to $54.3 million reported in the second quarter of fiscal 2002, and $54.2 million in the first quarter of fiscal 2003.

Adobe's GAAP operating income was $91.5 million in the second quarter of fiscal 2003, compared to $90.8 million in the second quarter of fiscal 2002 and $80.5 million in the first quarter of fiscal 2003.

This story, "Adobe sees revenue, earnings rise" was originally published by PCWorld.

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