Adobe Puts Positive Spin on Fourth Quarter Numbers
Adobe Puts Positive Spin on Fourth Quarter Numbers
Posted 12/17/2009 at 5:42am
| by Paul Lilly
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Adobe this week reported financial results for its fourth quarter and fiscal year ended November 27, 2009. According to the report, the company recorded fourth quarter revenue of $757.3 million, down from $915.3 million for the fourth quarter in 2008, but up from $697.5 million in the third quarter of this year.
"We experienced an improvement in customer demand for our products in Q4," said Shantanu Narayen, president and CEO of Adobe. "We believe the investments we have made in the past year, and the new products we will deliver in the coming year, will drive top line growth as the economy improves."
Adobe also pointed out that the results take into account the company's acquisition of Omniture, a deal that was valued at approximately $1.8 billion back in September. As a result of the close of that acquisition, Adobe was able to add $26.3 million to its Q4 revenue, with another $8.3 million deferred in accordance with business combination accounting guidelines.
Image Credit: Adobe
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