Web design company Macromedia Inc. on Wednesday issued revised numbers for its first financial quarter ended June 30, 2002. The company issued the new numbers reversing a US$2.8 million charge relating to the now resolved legal dispute with Adobe System Inc. as well as a deferral of approximately $500,000 of revenue.
The revised numbers put Macromedia’s first quarter revenue at 83.7 million compared with the 84.2 million the company first reported for the quarter; the company reported 88.7 million in the same quarter a year ago. Pro forma net income for the first quarter was $54,000, or $0.00 per diluted share, compared with Pro forma net income of $450,000, or $0.01 per diluted share originally reported; last year the company reported a pro forma net loss of $8.6 million, or $0.15 per share for the first quarter.
Net loss on a GAAP basis for the first quarter improved to $2.0 million or a loss of $0.03 per share, according to Macromedia. This compares to a loss of $4.3 million or $0.07 per share originally reported and $111.8 million or $1.94 per share for the same quarter a year ago.
Macromedia and Adobe reached an agreement on July 29, 2002, settling their longstanding patent lawsuit.
Shares of Macromedia were trading down 2.62 percent at $6.69 this afternoon.
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