Business News
Adobe to Outline Business Strategy and Outlook for Growth at Financial Analyst Meeting Today
Thursday 28. October 2010 - Company Reaffirms Q4 FY2010 Financial Targets and Expects 10 Percent Growth in FY2011
Adobe Systems Incorporated (Nasdaq:ADBE) will host its annual Financial Analyst Meeting with the financial community today in Los Angeles, CA. The meeting will be broadcast live in Adobe Connect from Adobes website (http://www.adobe.com/go/analystmeeting) beginning at 11:00 a.m. Eastern Time. For those unable to attend the meeting or watch the Webcast, an archive of the event will be available on Adobes investor relations website for a limited time.
At the meeting, senior executives will outline macro trends that are driving the companys fastest growing market segments, and the technology solutions and business strategies that will drive growth for Adobe. The macro trends include the multiscreen explosion, which is dramatically transforming how content is created, distributed and consumed; data-driven marketing, which is increasingly critical to enterprises as they seek to optimize online performance and gather customer insights; and the rise of the digital enterprise, where companies and governments are rapidly moving customer-facing processes online.
“Our solutions are empowering individuals and enterprises to create, manage, deliver, and optimize digital experiences across devices and operating systems, and our growth this year and outlook for next year are a reflection of this massive opportunity,” said Shantanu Narayen, Adobe president and CEO.
Adobe Provides Financial Targets
Adobe announced today it is targeting 10 percent revenue growth in fiscal year 2011.
The company also provided an intra-quarter business update for its fourth quarter ending Dec. 3, 2010. With approximately five weeks remaining in the quarter, Adobe announced it believes it will achieve quarterly results within the revenue and earnings target ranges it provided on Sept. 21, 2010. The Companys Q4 target ranges are the following: revenue of $950 million to $1 billion, GAAP diluted earnings per share of $0.35 to $0.41, non-GAAP diluted earnings per share of $0.48 to $0.54, a GAAP operating margin of 27 to 30 percent, and a non-GAAP operating margin of 37 to 38 percent.
A reconciliation between the Companys GAAP and non-GAAP financial targets is provided at the end of this press release. The fourth quarter financial targets do not include the impact of Adobes acquisition of Day Software announced July 27, 2010, which is expected to close tomorrow, Oct. 28, 2010. Adobe plans to report its fourth quarter results on Dec. 20, 2010 after the market closes.