Adobe beats the Street
Solid results, good expectations..
Adobe posted good results for the third quarter ended 3 September 2004, beating expectations, and predicts an even better fourth quarter.
Revenue grew 27 per cent to $403.7m, up from $319m for the third quarter of 2003. This beats estimates of revenue between $380m and $400m. Net income for the period was $104.5m, compared to $64.5m for the same period a year ago. It forecasts Q4 turnover of between $400m and $415m.
The board of directors approved a share dividend of $0.0125 per share payable 12 October 2004. Adobe shares rose slightly in after hours trading.
Bruce Chizen, president and CEO, said: "We continue to perform exceptionally well against our strategy to deliver comprehensive platform solutions to our customers. Our business momentum continues in advance of major new product releases beginning in Q1."
He told Reuters the firm had seen some weakness in technology spending but relatively low prices for Adobe's products meant the firm was insulated against such problems.
More details at Adobe. ®