SAN JOSE, Calif. — August 3, 2004 — Adobe Systems Incorporated (Nasdaq:ADBE) today provided its regular intraquarter business update for its third quarter of fiscal 2004, which ends September 3, 2004.
In its business update, Adobe stated it expects to exceed the financial targets it provided on June 17, 2004. The Company increased its Q3 FY2004 target ranges to the following: revenue of $380 to $400 million, and earnings per share of $0.36 to $0.41. Adobe’s prior targets were revenue of $360 to $380 million, and earnings per share of $0.31 to $0.36.
Adobe indicated the increase in targets was due to the greater than expected revenue thus far in the quarter for its Adobe Photoshop and Creative Suite products, and for its Acrobat product family. The Company also indicated it is experiencing solid demand in all of its major geographic markets.
The Company plans to report its third quarter fiscal 2004 results on September 20, 2004 after the market closes.
Forward Looking Statements Disclosure
This press release contains forward looking statements, including those related to revenue, geographic markets, and earnings per share, which involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: adverse changes in general economic or political conditions in any of the major countries in which Adobe does business, delays in development or shipment of the Company’s new products or major new versions of existing products, introduction of new products by existing and new competitors, difficulties in transitions to new business models or markets, changes in demand for application software, computers and printers, intellectual property disputes and litigation, changes to the Company’s distribution channel, the impact of malicious code, such as worms and viruses, on the Company’s computer network and applications, interruptions or terminations in the Company’s relationships with turnkey assemblers, fluctuations in foreign currency exchange rates, changes in accounting rules, unanticipated changes in tax rates, market risks associated with the Company’s equity investments, and the Company’s inability to attract and retain key personnel. For further discussion of these and other risks and uncertainties, individuals should refer to the Company’s SEC filings, including the 2003 annual report on Form 10-K and quarterly reports on Form 10-Q filed in 2004. The Company does not undertake an obligation to update forward looking statements.