Adobe Announces Results for Q1; Prepares for Biggest Launch in its History
Adobe Announces Results for Q1; Prepares for Biggest Launch in its History. Adobe earlier this week released its first quarter financial reports as it prepares for the biggest launch since the company was founded.
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March 22, 2007 - Adobe earlier this week released its first quarter financial reports as it prepares for the biggest launch in its 25-year history.
In the period ending March 2, 2007, Adobe pulled in $649.4 million in revenue, which was within its revenue target range of $640 to $670 million. Revenue was just under 1 percent lower than the first quarter of last year. Diluted earnings were 24 cents per share, up from last year’s 17 cents per share.
"Q1 was a solid quarter for Adobe, as we came in at the high end of our earnings target range and were within our targeted range for revenue," said Bruce Chizen, chief executive officer for Adobe, in a March 20 company press release. "As Adobe prepares for the biggest product launch in our history, we are excited about our opportunities and bullish about our prospects for another year of strong performance."
Adobe earlier this week released an alpha version of Apollo, a cross-operating system that aids in building and deploying rich Internet applications on the desktop. It will launch Creative Suite 3 late spring.
Adobe expects to increase revenue by 15 percent in 2007.