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Adobe Systems Reaffirms Q4 Targets, Provides IntraQuarter Business Update

Press release from the issuing company

SAN JOSE, Calif.--Oct. 28, 2002--Adobe Systems Incorporated, the leader in network publishing, today is providing its regular intraquarter business update for its fourth quarter of fiscal 2002, which ends Nov. 29, 2002. With five weeks remaining in the quarter, Adobe announced that it believes it will achieve revenue and profit results within its previously announced target ranges. The Company expects to achieve revenue between $285 to $300 million, and pro forma earnings of $0.21 to $0.25 per share in the quarter. Adobe's management team plans to discuss this update at its Fall Financial Analyst Meeting, which will be held today in New York City. In addition, they will provide details about its future operating model and strategic business plans for fiscal year 2003. "I'm excited about aligning our core strengths with emerging market trends," said Bruce Chizen, Adobe president and chief executive officer. "Each of our three areas of focus -- Acrobat-based solutions for the enterprise, digital imaging, and creative professional solutions -- represent significant, long-term opportunities for Adobe."