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Revenue Increases 61% as Macromedia Reports 3Q Earnings

Wednesday, January 17, 2001

Press release from the issuing company

San Francisco, California—Macromedia, Inc. (NASDAQ: MACR) today announced revenues of $103.3 million for the third quarter ended December 31, 2000, a 61% increase over revenues of $64.3 million reported in the quarter ended December 31, 1999. Pro forma net income grew 97% year over year to $16.2 million, or $0.29 diluted earnings per share during the third quarter of fiscal 2001, compared to pro forma net income of $8.2 million, or $0.15 diluted earnings per share in the same period a year ago. Revenues for the nine months ended December 31, 2000 increased 72%, totaling $300.5 million, as compared with $174.9 million for the nine-month period a year ago. Pro forma net income for the nine-month period increased over 150% reaching $45.7 million, or $0.81 diluted earnings per share, as compared with pro forma net income of $17.8 million, or $0.33 diluted earnings per share, a year ago. "We believe Macromedia is in its strongest competitive position ever," said Rob Burgess, Macromedia chairman and chief executive officer. "During the quarter, the company shipped outstanding new versions of Dreamweaver 4, Dreamweaver UltraDev 4 and Fireworks 4 which extend our leadership and enable our customers to develop the web experiences we all want. Our upcoming merger with Allaire creates awesome new opportunities for us and we look forward to the future with a great deal of optimism." Business Outlook Macromedia provided updated growth targets for its fourth quarter fiscal 2001. Beginning with the fourth quarter fiscal 2001, the company will no longer report shockwave.com revenue as part of its consolidated financial statements. Therefore, excluding shockwave.com revenue, the Company said that revenue and pro forma earnings for the fourth quarter fiscal 2001 for its software business only will be similar to the December quarter due to softening macroeconomic conditions. In addition, the Company provided preliminary targets for FY02 on a pro forma combined basis including Allaire. Revenues in FY02 are expected to be approximately $630 million or approximately 60% growth over expected FY01 revenue for Macromedia’s software business. Pro forma combined earnings for fiscal year 2002 are expected to be approximately $1.70. This preliminary combined outlook will be updated at the closing of the merger, expected in calendar Q201. Macromedia’s business outlook will be available on the MACR Investor site throughout the current quarter. Macromedia makes these statements as of today and undertakes no obligation to update these statements. It is currently expected that these business outlook statements will not be updated until the release of Macromedia’s next quarterly earnings announcement. The company reserves the right to update the outlook for any reason during the quarter, including the occurrence of material events.




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