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Technology Stocks : Adobe (adbe) opinions -- Ignore unavailable to you. Want to Upgrade?

To: Mark Palmberg who wrote (2559)	10/15/1998 8:32:00 PM
From: tonyt	Respond to of 3111

>Up over $3 today? What's going on? Adobe says profits may exceed expectations =============================================== SAN JOSE, Calif., Oct 15 (Reuters) - Desktop publishing software company Adobe Systems Inc. (NASDAQ:ADBE) said on Thursday that its earnings for the current quarter may exceed analysts' expectations. The San Jose, Calif.-based company said that based on preliminary results, its earnings for the fourth quarter ending Nov. 27 could range from 60 cents to 65 cents per share -- exceeding the Wall Street consensus of 56 cents a share. In last year's fourth quarter, Adobe reported net income of $46.8 million, or 64 cents a share. Adobe said that revenue was likely to be in the range of $240 million to $245 million, vs. $227.1 million a year ago. Full results for the quarter will be announced Dec. 16. Adobe is the largest maker of desktop publishing software, and its products include PhotoDeluxe, PhotoShop and PageMaker. The company had been criticized in recent quarters for a dearth of new products, but it has subsequently brought out upgrades to its most popular programs. In the current quarter Adobe has begun shipping the English-language version of Adobe Illustrator 8.0, which it said had received "stellar reviews." It said versions in other languages, including French, German, and Japanese, are scheduled to ship by the end of the quarter. "We are pleased to have the recent restructuring behind us and to have shipped these two products. However, we remain cautious about the overall, global, economic conditions particularly in Japan and other parts of Asia," Chief Executive Officer John Warnock said in a statement. Adobe recently fended off a hostile bid from rival Quark Inc. Denver-based Quark, roughly one-fifth the size of Adobe, dropped its efforts to pursue acquisition talks with Adobe in September. Adobe also said it expected operating expenses in the quarter to be in the range of $146 million to $151 million, compared with $143 million in the fourth quarter of fiscal 1997. Copyright 1998, Reuters News Service