Adobe revenue exceeds its target

16 Dec 2011

Shantanu Narayen, president and CEO of Adobe

Revenue for Adobe Systems Incorporated exceeded the company’s target range of US$1.075bn to $1.125bn, and represents 14pc year-over-year revenue growth.

Financial results for Adobe’s fourth quarter and fiscal year ended 2 December 2011 also showed that diluted earnings per share were US$0.35 on a GAAP-basis, and US$0.67 on a non-GAAP basis.

Operating income for the provider of digital media creation and editing, multimedia authoring, and web development products was US$246.1m, operating margin was 21.4pc and net income was US$173.7m on a GAAP-basis. 

Operating income was US$444.5m, operating margin was 38.6pc and net income was US$332.6m on a non-GAAP basis.

Deferred revenue grew by US$47.6m to US$531.7m, and cash flow from operations was US$496.8m.

“Adobe’s record results in Q4 and fiscal 2011 were driven by strong performance in our digital media and digital marketing businesses,” said Shantanu Narayen, president and CEO of Adobe. “We intend to be the market leader in these two large categories, which will drive strong revenue and earnings growth.”

“Our outstanding Q4 finish enabled Adobe to beat the annual revenue growth target we provided at the outset of the year,” added Mark Garrett, executive vice-president and CFO of Adobe. 

“We also drove US$1.5bn in cash flow during the year, and grew annual non-GAAP earnings per share by 22pc.”