Adobe profits up

Posted on 13 Jun 2003 at 11:38

Adobe announced a $64.2mn profit for the second fiscal quarter of 2003, thanks in a large part to the release of Acrobat 6.

Profits were up $10mn on the same quarter last year.

Revenues for the quarter ending 30 May 2003 of $320mn just pipped the forecast range of $305mn to $320mn.

'The release of Acrobat 6.0 in Q2 helped drive record revenue in our ePaper business, and signals the beginning of a strong product cycle,' said Bruce Chizen, president and CEO of Adobe Systems. 'This month we're celebrating 10 years of Acrobat and PDF. From communicating business critical information across the enterprise to sharing photos with friends and family, Acrobat and PDF have clearly become synonymous with the reliable delivery of digital information.'

Chizen predicted strong growth through to the end of the year with the release of new creative professional products, which is expected to include new versions of Photoshop and InDesign. However, some analysts have predicted that Adobe will face 'stiff competition' in the ePaper market when Microsoft releases XDocs later this year. Chizen believes that this is unlikely to affect the company's prospects: 'It's a category we've been in for close to 10 years now,' he said. 'The free Adobe Reader and the .pdf format are the major differentiators.'

Author: Simon Aughton

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