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Adobe beats targets for Q4

But CFO heads home

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Adobe has claimed a “remarkable” 2005, turning in fourth quarter revenues that were slightly ahead of its targeted range.

The software vendor turned over $510.4m in its fourth quarter ending December 2, up 19 per cent on the year. Its target range had been $490m to $510m.

Net income was $156.3m, compared to $113.5m a year ago. This worked out to $0.31 per share, or $0.30 on a non-GAAP basis. Analysts had expected $0.29 per share.

For the full year, sales were up 18 per cent to $1.97bn, while earnings came in at $602.8m, up 34 per cent.

Adobe expects first quarter revenues to come in at $630m to $660m, with earnings of $0.28 to $0.30, excluding charges, including those for its Macromedia purchase.

No matter how many beans the company brings in next year, they won’t be counted by CFO Murray Demo. Adobe announced yesterday that Demo plans to leave by the end of March, to spend more time with his family.®

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