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Adobe Systems Provides Q3 Update, Expects to Exceed Guidance

Press release from the issuing company

SAN JOSE, Calif.--Aug. 2, 2004-- Adobe Systems Incorporated today provided its regular intra-quarter business update for its third quarter of fiscal 2004, which ends September 3, 2004. In its business update, Adobe stated it expects to exceed the financial targets it provided on June 17, 2004. The Company increased its Q3 FY2004 target ranges to the following: revenue of $380 to $400 million, and earnings per share of $0.36 to $0.41. Adobe's prior targets were revenue of $360 to $380 million, and earnings per share of $0.31 to $0.36. Adobe indicated the increase in targets was due to the greater than expected revenue thus far in the quarter for its Adobe Photoshop and Creative Suite products, and for its Acrobat product family. The Company also indicated it is experiencing solid demand in all of its major geographic markets. The Company plans to report its third quarter fiscal 2004 results on September 20, 2004 after the market closes.