Adobe profit up 41%

Adobe profit up 41%
Software maker reports rise in sales of 19% on global revenue and varied products.

June 16, 2008: 5:19 PM EDT

http://money.cnn.com/2008/06/16/technology/adobe_earnings.ap/index.htm?postversion=2008061617

SAN FRANCISCO (AP) -- Adobe Systems Inc. reported Monday that its profit rose 41% in the second quarter because of its strong product mix and geographic diversification.
For the three months ended May 30, the maker of Photoshop design software and the Acrobat publishing tool reported net income of $214.9 million, or 40 cents per share, compared to $152.5 million, or 25 cents per share, in the same quarter a year ago.
Excluding special items, the software maker reported income of $272.7 million, or 50 cents per share, compared to $223.2 million, or 37 cents per share in the same quarter a year ago.
On that same basis, analysts polled by Thomson Financial had predicted, on average, earnings per share of 46 cents on revenue of $880 million.
Actual revenue beat those expectations at $886.9 million, up 19% from $745.6 million a year ago.
"Our strong performance in Q2 was driven by the product mix and geographic diversity of our business," said Shantanu Narayen, Adobe's chief executive officer in a company statement.
The San Jose-Calif.-based company expects third-quarter earnings of 34 cents to 36 cents per share, or 45 cents to 47 cents per share on an adjusted basis.
Adobe (ADBE) expects revenue of $855 million to $885 million in the third quarter.
Shares of Adobe closed the day at $42.85, up less than 1%, before the results were announced. They were down 38 cents, or 0.9%, in after-hours trading Monday.