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Adobe Systems Reports Strong Q3 Revenue and Earnings

Continued Momentum for Creative Suite and Acrobat Products Drives 27 Percent Revenue Growth

SAN JOSE, Calif. September 20, 2004 Adobe Systems Incorporated (Nasdaq: ADBE) today reported financial results for its third quarter ended September 3, 2004.

Online Stock Market Trading In the third quarter of fiscal 2004, Adobe achieved revenue of $403.7 million, compared to $319.1 million reported for the third quarter of fiscal 2003 and $410.1 million reported in the second quarter of fiscal 2004. On a year-over-year basis, this represents 27 percent revenue growth. Adobe's third quarter revenue target range, revised upward on August 2, 2004, was $380 to $400 million.
"We continue to perform exceptionally well against our strategy to deliver comprehensive platform solutions to our customers," said Bruce R. Chizen, president and chief executive officer. "Our business momentum continues in advance of major new product releases beginning in Q1."

Oct 23, 2007 Secure Corporation accelerated its overall revenue growth to 21% in the third quarter of 2007, time high quarterly revenue of 24.3 million euros. The strategic ISP business sustained its strong level of growth with a 42% year growth. Earnings before interest and taxes increased by 63% to 6.2 million euros, and EBIT was thus 26% of Q3 revenues.

Stock Investing Course GAAP diluted earnings per share for the third quarter of fiscal 2004 were $0.42. Non-GAAP diluted earnings per share, which does not include an investment loss from the company's venture program, were $0.43. Adobe's revised GAAP and non-GAAP third quarter earnings target range was $0.36 to $0.41 per share.

Wall Street has been expecting earnings per share of $1.25, excluding items, on sales of $989.3 million. In February, year forecast for earnings of $1.20 to $1.26 per share, based compensation. Chief Executive E. Scott Beattie said that organizational improvements in Europe and Asia, particularly China, would contribute to revenues and earnings next year.

Stock Market Game GAAP net income was $104.5 million for the third quarter of fiscal 2004, compared to $64.5 million reported in the third quarter of fiscal 2003, and $109.4 million in the second quarter of fiscal 2004. On a year-over-year basis, GAAP net income grew 62 percent.

Uniblue Systems Ltd has also been shortlisted for the IT Company Award. The award recognizes growth and increased revenue for suppliers of IT products and services. The adjudication criteria are growth in company earnings, increase in the number of employees, new market penetration, and overseas revenue component of company earnings. 2007, has increased the number of employees from 21 to 50 within a year, has recently launched a retail sales channel in the USA and almost 100% of revenue is generated overseas.

Stock Investing Game Non-GAAP net income, which excludes, as applicable, a partial reversal of prior restructuring charges, and investment gains and losses, was $105.6 million for the third quarter of fiscal 2004, compared to $66.3 million in the third quarter of fiscal 2003, and $108.8 million in the second quarter of fiscal 2004. On a year-over-year basis, non-GAAP net income grew 59 percent.

Journal Prime Rate Street Wall GAAP diluted earnings per share for the third quarter of fiscal 2004 were $0.42 based on 247.1 million weighted average shares. This compares with GAAP diluted earnings per share of $0.27 reported in the third quarter of fiscal 2003, based on 240.5 million weighted average shares, and GAAP diluted earnings per share of $0.44 reported in the second quarter of fiscal 2004, based on 247.0 million weighted average shares.

However, the time you could actually save is minimal at best. If you decide to go this route, you must also complete a Form 8814 for each child and attach it to your tax return. Form 8814, Parents' Election To Report Child's Interest and Dividends The file is in Adobe portable document format (PDF), which requires the use of Adobe Acrobat Reader. To get a free version of Adobe Acrobat Reader software, go to the Adobe web site.

Stock Market News Adobe's GAAP operating income was $140.3 million in the third quarter of fiscal 2004, compared to $92.2 million in the third quarter of fiscal 2003 and $141.8 million in the second quarter of fiscal 2004. As a percent of revenue, GAAP operating income in the third quarter of fiscal 2004 was 34.8 percent, compared to 28.9 percent in the third quarter of fiscal 2003 and 34.6 percent in the second quarter of fiscal 2004.

Stock Investing Basics Adobe's non-GAAP operating income, which excludes, as applicable, a partial reversal of prior restructuring charges, was $140.3 million in the third quarter of fiscal 2004, compared to $91.8 million in the third quarter of fiscal 2003 and $141.8 million in the second quarter of fiscal 2004. As a percent of revenue, non-GAAP operating income in the third quarter of fiscal 2004 was 34.8 percent, compared to 28.8 percent in the third quarter of fiscal 2003 and 34.6 percent in the second quarter of fiscal 2004.

Stock Investing Software Company Provides Fourth Quarter Financial Targets
For the fourth quarter of fiscal 2004, the Company announced that it is targeting revenue of $400 to $415 million, a gross margin range of approximately 94 percent, and GAAP and non-GAAP operating margin ranges of 31 to 33 percent.

Stock Market Trading As a percent of revenue, Adobe is targeting fourth quarter expenses as follows:

Stock Investing For Dummy Research & Development - approximately 20 percent
Sales & Marketing - approximately 32 to 34 percent
General & Administrative - approximately 9 percent

Stock Market Crash In addition, Adobe is targeting its share count range to be between 249 and 250 million shares in the fourth quarter of fiscal 2004. The Company also is targeting other income in its fourth quarter to be approximately $3 million, and a tax rate of 26 percent. These targets lead to fourth quarter GAAP and non-GAAP earnings per share target ranges of $0.38 to $0.41.

Stock Investing Tip The Company currently believes targeted non-GAAP earnings per share and non-GAAP operating margin results will not differ materially from targeted GAAP results.

Stock Market Chart The Adobe Board of Directors declared this quarter's cash dividend of $0.0125 per share, payable on October 12, 2004 to stockholders of record as of September 28, 2004.

Online Stock Investing Forward Looking Statements Disclosure
This press release contains forward looking statements, including those related to revenue, product releases, gross margin, operating margin, operating expenses, share count, tax rate, 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 we do business, delays in development or shipment of our 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 our distribution channel, the impact of malicious code, such as worms and viruses, on our computer network and applications, interruptions or terminations in our relationships with our turnkey assemblers, fluctuations in foreign currency exchange rates, changes in accounting rules, unanticipated changes in tax rates, market risks associated with our equity investments, and our 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.

Stock Market Crash Of About Adobe Systems Incorporated
Adobe helps people and businesses communicate better through its world-leading digital imaging, design and document technology platforms for consumers, creative professionals and enterprises. Adobe's revenue in its last fiscal year exceeded $1.2 billion. For more information about Adobe, visit www.adobe.com.

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