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Adobe Systems Provides Q3 FY2003 Intra-Quarter Business Update

Press release from the issuing company

SAN JOSE, Calif.--July 31, 2003-- Adobe Systems Incorporated, the leader in network publishing, today is providing its regular intra-quarter business update for its third quarter of fiscal 2003, which ends August 29, 2003. With more than four weeks remaining in the quarter, Adobe stated that all of its major geographic markets and its global Acrobat launch are on track, and the Company believes it will achieve revenue and earnings per share within the target ranges it previously provided on June 12, 2003. The Company's third quarter target ranges are revenue of $300 to $315 million, and GAAP earnings per share of $0.22 to $0.25. The Company currently believes that pro forma earnings per share results will not differ materially from GAAP results. The Company plans to report its third quarter fiscal 2003 results on September 10, 2003 after the market closes.