Archive notice: This article was originally published on September 19, 2007. Links and embedded videos are preserved as part of the historical record.
Adobe Systems has published the results of the third quarter of fiscal year 2007 (June 2, 2007 to August 31, 2007). Adobe recorded record revenue of 851.7 million US dollars, compared with 602.2 million US dollars in the same period of the previous year and 745.6 million US dollars in the second quarter of fiscal year 2007. This corresponds to growth over the year of 41 percent. The target for the third quarter was a range of 760 million to 800 million US dollars.
“Above all, excellent sales of Creative Suite 3 and Acrobat contributed to this record result”, says Fritz Fleischmann, Managing Director of Adobe Systems GmbH and Senior Managing Director Central and Eastern Europe. “With regard to the end of our fiscal year 2007, we are well positioned to continue achieving double-digit revenue growth.”
On the basis of 597.3 million shares outstanding, earnings per share reported under GAAP (Generally Accepted Accounting Principles) in the third quarter of 2007 were 0.34 US dollars. In the same quarter of the previous year, Adobe achieved earnings per share of 0.16 US dollars, based on 600.9 million shares. In the second quarter of 2007, Adobe achieved GAAP earnings per share of 0.25 US dollars (basis: 603.4 million shares). The target for the third quarter was a range of 0.28 to 0.31 US dollars.
In the third quarter of 2007, GAAP operating profit was 255 million US dollars, compared with 110 million US dollars in the same quarter of the previous year and 180.4 million US dollars in the second quarter of 2007. Operating profit in the third quarter of fiscal year 2007 was 29.9 percent of revenue; in the same period of the previous year it was 18.3 percent, and in the second quarter of fiscal year 2007 24.2 percent.
Adobe achieved GAAP net income of 205.2 million US dollars in the third quarter of fiscal year 2007. In the third quarter of 2006 it was 94.4 million US dollars; in the second quarter of 2007, net income was 152.5 million US dollars.
Non-GAAP earnings per share were 0.45 US dollars in the third quarter of fiscal year 2007. In the same period of the previous year, Adobe achieved 0.29 US dollars; in the second quarter of 2007, Non-GAAP earnings per share were 0.37 US dollars. The target for the third quarter of 2007 was 0.39 to 0.41 US dollars.
Non-GAAP operating profit was 340.9 million US dollars in the third quarter of fiscal year 2007. In the same period of 2006 it was 207.2 million US dollars, and in the second quarter of 2007 282.1 million US dollars. In the third quarter of 2007, this corresponded to 40 percent of revenue, compared with 34.4 percent in the same period of the previous year and 37.8 percent in the second quarter of 2007.
Net income under Non-GAAP was 269.4 million US dollars in the third quarter of fiscal year 2007. This figure was 171.5 million US dollars in the same period of the previous year and 223.2 million US dollars in the second quarter of 2007.
In the fourth quarter of fiscal year 2007, Adobe is aiming for revenue between 860 million and 890 million US dollars and a GAAP operating margin of an expected 30 to 31 percent. The Non-GAAP* target is an operating margin of about 41 percent.
Adobe plans with a number of 588 to 590 million shares outstanding. The company also expects other income of about 16 to 19 million US dollars and a GAAP tax rate of 25 to 26 percent, or 26 to 27 percent under Non-GAAP.
This leads to expected earnings per share of about 0.35 to 0.37 US dollars under GAAP. Under Non-GAAP*, this target is between 0.46 and 0.48 US dollars.
You can find the binding and detailed presentation of the quarterly results in the original US press release.
Further Links:
- Adobe original press release
