ADOBE Increases Its Operating Model Targets
biz.yahoo.com
SAN JOSE, Calif., April 4 /PRNewswire/ -- Adobe Systems Incorporated (Nasdaq: ADBE - news) today announced that it has increased its operating model targets for the second half of its fiscal year beginning June 3, 2000, from 20 percent annual revenue growth and 30 percent operating profit to 25 percent annual revenue growth and 30 percent operating profit.
The company is maintaining its targets for its second fiscal quarter ending June 2 at 20 percent annual revenue growth and 30 percent operating profit.
``The growth of the web continues to fuel our business and we are now in the strongest position in our history,' said John Warnock, Adobe chairman and CEO. ``While we have raised our revenue growth target for the second half of fiscal 2000, we will also increase our investments in R&D, sales, and marketing, thereby maintaining our operating profit at our targeted 30 percent of revenue. We remain optimistic about our future growth, particularly as new products and product upgrades begin shipping in the second and third quarters of the year.'
Founded in 1982, Adobe Systems Incorporated (www.adobe.com) builds award-winning software solutions for Web and print publishing. Its graphic design, imaging, dynamic media, and authoring tools enable customers to create, publish and deliver visually rich content for various types of media. Headquartered in San Jose, California, Adobe is the fourth largest U.S.-based personal software company, with annual revenues exceeding $1 billion.
This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: lack of market acceptance of new products and upgrades; delays in shipment of the Company's new products and major new versions of existing products; introduction of new products by major competitors; ongoing weakness in the Company's printing business due to product transitions; industry transitions to new distribution, business and information delivery models; adverse economic conditions in any of the major countries in which the Company does business, and Year 2000 issues. For further discussion of the risks and uncertainties, readers should refer to the Company's SEC filings including the 1999 annual report on Form 10-K and the quarterly reports on Form 10-Q filed by the Company in 1999 and 2000.
NOTE: Adobe and the Adobe logo are trademarks of Adobe Systems Incorporated. All other trademarks are properties of their respective owners.
SOURCE: Adobe Systems Incorporated |
