Adobe Systems Issues Earnings Update, On Track for 31% Profit Margin
Press release from the issuing company
SAN JOSE, Calif., (May 1, 2001) (Nasdaq: ADBE)--Adobe Systems Incorporated today announced that it is on track to meet its targets of 15 percent year-over-year revenue growth and 31 percent operating profit margin for its second quarter fiscal 2001, which ends June 1, 2001. Adobe also stated that it has seen strong initial orders worldwide for its new Adobe® Acrobat® version 5 software that was released in April.
The Company plans to discuss details about this update at its Spring Financial Analyst Meeting, which will be held today in New York City.
"At this point in the quarter, we are on track to meet our top line revenue target of 15 percent revenue growth in Q2," said Bruce R. Chizen, president and chief executive officer of Adobe. "As expected, our U.S. business has not changed significantly and we are still being affected by the economic downturn. In some European countries, we have started to see a slowdown, however our Asia business continues to perform well. The uncertain global economic conditions are making the outlook for the second half of the year difficult to gauge."
Today's analyst meeting will be broadcast live from Adobe's Website beginning at 10am Eastern Time. The Company plans to report its second quarter fiscal 2001 results on June 14, 2001 after the market closes.
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