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Technology Stocks : Adobe (adbe) opinions

ADBE 324.44

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To: Tobias Ekman who wrote (2527)	9/10/1998 6:00:00 PM
From: Charles W. Breaux, Jr.	of 3111

To all: 3Q '98 results: quicken.com For the quarter, Adobe achieved $222.9 million in revenue, and reported $152,000 in net income, and less than $0.01 in diluted earnings per share based on 68.4 million weighted average shares. These results reflect a previously announced restructuring during the quarter, which resulted in a restructuring charge of $37.1 million. The restructuring included a reduction in force of approximately 350 regular employees, about 12% of the total workforce. In addition, other non-recurring charges of $0.8 million were incurred. On a normalized basis for the third fiscal quarter of 1998, excluding non-recurring charges and gains, operating income was $33.8 million, net income was $25.2 million and diluted earnings per share was $0.37. Chuck

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