by CIO Staff

Adobe Revenues Up, Income Down

Jun 16, 20062 mins
IT Leadership

Adobe revealed its second-quarter financial results Thursday, confirming some financial impact from its recent merger with Macromedia.

Revenues rose, though income fell slightly, causing the company to drop its revenue targets for the current financial year.

Adobe achieved revenue of US$635.5 million, compared to $496 million reported for the second quarter of fiscal 2005 and $655.5 million reported in the first quarter of fiscal 2006. On a year-over-year basis, this represents 28 percent revenue growth. Adobe’s second-quarter revenue target range was $640 million to $670 million.

“We are pleased we were able to deliver on our earnings targets in Q2 despite coming in slightly below our targeted revenue range,” said Bruce R. Chizen, Adobe CEO. “Looking forward, as the explosion of digital content accelerates, we continue to be excited about our prospects for future growth.”

Income was down slightly. GAAP net income was $123.1 million for the second quarter of fiscal 2006, compared to $149.8 million reported in Q2 2005.

Adobe is targeting revenue of $580 million to $610 million for its third fiscal 2006 quarter. The company lowered its revenue targets for fiscal 2006 to a range of $2.54 billion to $2.6 billion.

-Macworld staff,

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