Adobe Raises Earnings Forecast - InformationWeek

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Adobe Raises Earnings Forecast

The company has raised its earnings-per-share estimates by 10 cents, citing "solid demand" in its major geographic markets quarter-to-date and an expected boost from its soon-to-ship Adobe Acrobat 8 product.

Adobe Systems Inc. on Wednesday raised its earnings forecast for the fiscal fourth quarter, but kept its revenue targets the same.

The San Jose, Calif., graphics software maker said earnings per share would range from 29 cents to 32 cents, up from its previous estimate of 19 cents to 22 cents. The numbers were based on generally accepted accounting principles, or GAAP. Non-GAAP earnings projections remained unchanged at 32 cents to 34 cents per share.

The company maintained its revenue estimate for the quarter of $655 million to $685 million.

The reason for the revised estimate was "solid demand" in Adobe's major geographic markets quarter-to-date, the company said. In addition, Adobe expected to get a boost from its new Adobe Acrobat 8 product, which is scheduled to ship in the first week of November.

The company plans to report its fourth quarter results on Dec. 14.

Last month, Adobe reported a 35 percent drop in third-quarter net income to $94.4 million from $144.9 million the same period a year ago. Revenues, however, rose 24 percent to $602.2 million from $487 million.

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