Adobe Sees Demand Improving
Though it posted lower quarterly profit and sales for its fourth quarter, Adobe still managed to beat analysts’ projections. Reporting earnings after market close Tuesday, the software company posted a net loss of $32.04 million, or six cents a share, on revenue of $757.3 million. That’s down from a profit of $245.9 million, or 46 cents a share, on sales of $915.3 million in the same quarter a year ago. Excluding special items, Adobe (ADBE) said earnings for the quarter were 39 cents a share, which is better than the 37 cents a share analysts polled by Thomson Reuters had forecast.
Clearly, the past few months have not been kind to sales of Adobe’s flagship graphics software, Creative Suite 4, which had the misfortune of launching in late 2008 just as the econalypse really started kicking in. That said, things are looking up. Adobe says demand for its products is improving. For its first quarter ending in February, the company said it now expects revenue of between $800 million and $850 million. Analysts have been predicting first-quarter revenue of $798.3 million.