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Adobe 3Q net income down, results beat estimates
Fecha de publicación: 9/16/2008
Investors also were heartened by positive signals from Adobe for the current quarter.

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NEW YORK. Publishing and design software maker Adobe Systems Inc. said Tuesday its profit fell 7 percent in its fiscal third quarter. But by the measures watched on Wall Street, earnings beat analysts' forecasts.

Investors also were heartened by positive signals from Adobe for the current quarter.

San Jose, Calif.-based Adobe said sales of its Acrobat and LiveCycle products and a diverse business drove the quarter's results, even amid the bad economy. For the three months ended Aug. 29, Adobe earned $192 million, or 35 cents per share, down from $205 million, or 34 cents per share, a year earlier.

The company had fewer outstanding shares in the latest quarter, boosting per-share earnings. Higher operating costs and sharply lower interest income contributed to the quarter's lower net profit.

Excluding one-time items, however, Adobe earned 50 cents per share, above Wall Street's expectations for 46 cents, according to Thomson Reuters.

Revenue climbed 4 percent to $887 million, beating the forecast of $877 million.

"It is clear the cumulative benefit of our increasingly diversified business across product lines, customer segments, and geographies, is contributing to Adobe's success," said Chief Executive Shantanu Narayen in a conference call with investors.

Adobe's shares jumped after it forecast fiscal fourth-quarter earnings of 39 to 41 cents per share and adjusted earnings of 51 to 53 cents per share. Wall Street had been estimating 51 cents, according to Thomson Reuters.

Adobe also said it expects revenue of $925 million to $955 million for the quarter, which ends in November. Analysts were expecting sales of $939 million.

The company is launching the latest version of its Creative Suite software package next week. Shares jumped $2.15, or 5.6 percent, to $40.29 in after-hours trading, after closing up 6 cents at $38.14.

Fuente: Yahoo.com/News
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