Friday, March 14, 2003
Adobe Systems reported sales and profit growth for its fiscal first quarter with strong sales in its Photoshop publishing and Acrobat document making software.
Net income for the quarter was $54.2 million, or 23 cents a share, compared with $49.8 million, or 21 cents a share last year. Total sales were $296.9 million, compared with $267.9 million a year ago.
Earnings were 25 cents a share excluding investment losses and other one-time charges. Analysts predicted earnings of 22 cents a share.
Adobe said it expects revenue of $300 million to $315 million in the second quarter and pro forma earnings 24 to 27 cents per share.
By: DocMemory
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