Adobe Systems Inc.
on Thursday reported 43 percent revenue growth for its first quarter ending March 5, 2004. The company also reported $423.3 million in revenue for the first quarter of Adobe’s FY 2004, a number substantially higher than Adobe’s guidance — the company expected closer to $405 million.
Net income for the quarter was $123 million, compared to $54.2 million for the same quarter a year ago — a 127 percent year-over-year improvement — and $83.3 million for the previous quarter.
Adobe President and CEO Bruce Chizen attributed the strong quarterly revenue to the company’s Creative Suite software, as well as its Intelligent Documents business.
Adobe is targeting revenues of $365 to $385 million for the second quarter of FY 2004, and has raised its revenue target for the year from $1.475 to $1.5 billion.