Adobe Systems Inc. issued a statement tonight with some good news for investors and Wall Street.
Assuming typical seasonal results for February, the company believes it will achieve revenue and pro forma earnings per share within the target ranges it previously provided on December 13, 2001. The company’s first quarter target ranges are revenue of $265 to $280 million, and pro forma earnings per share of $0.20 to $0.22.
Despite marginally weaker revenues in the U.S. and Europe for December, Adobe said they have seen improvements in the business in both markets. In Asia, Japan revenue continues to be stable and is on track with Company expectations for the first quarter.
“We are in the midst of a strong product release cycle,” said Bruce R. Chizen, president and chief executive officer of Adobe. “We have shipped several products, including Adobe InDesign 2.0, and we are on track to deliver other key products as planned.”
Adobe plans to report its first quarter fiscal 2002 results on March 14, 2002 after the market closes.