Adobe returned profits in excess of analysts’ expectations in its third quarter 2003, the company announced last night.
The company also warned that its customers should expect several major product announcements on September 29 2003. Adobe will launch “a customer event” on that date in New York. The announcement will be webcast and the transmission will be available from Adobe’s Web site.
Citing market success for its Acrobat product line – which the company has been marketing aggressively at government and blue-chip clients, the quarter saw Adobe achieved net income of $64.5 million on revenues of $319.1 million. The company met revenues of $284.9 million in Q3 2002 and $320.1 million in its second 2003 quarter.
The results show 12 per cent growth – Adobe had aimed at revenue targets of $300-315 million in the quarter.
Adobe president and CEO, Bruce Chizen, said: “Our exceptional third quarter performance was driven by year-over-year growth of 62 per cent in our ePaper business. As we look to the fourth quarter and beyond, we are optimistic across our overall business.”
The company is aiming for fourth-quarter revenues of $330 to $350 million. Its third quarter ended August 29.
Adobe discussed its fourth-quarter spending plans. The company intends spending 20-21 per cent of revenues on research and development, 32 per cent of revenues on sales and marketing, and nine per cent of revenues on general and administrative expenses.