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Adobe reports Q4 loss, foresees better times ahead
16 December 2009 , Written by Dhruv Tanwar
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Adobe Systems has reported its financial results for its fourth quarter and fiscal year ended Nov. 27, 2009.

During the fourth quarter of fiscal 2009, Adobe's revenues were $757.3 million, compared to $915.3 million reported for the corresponding period in fiscal 2008 and $697.5 million reported in immediately preceding quarter.. Fourth quarter fiscal 2009 results include the impact of the Company’s acquisition of Omniture, Inc.

Adobe reported revenues of $26.3 million on account its acquisition of Omniture in October 2009. The company's GAAP operating income was $153.6 million during Q4 of fiscal 2009, compared to $273.2 million in the Q4 of fiscal 2008 and $167.6 million in the Q3 of fiscal 2009.

As a percent of revenue, GAAP operating income in the fourth quarter of fiscal 2009 was 20.3 percent, against 29.8 percent during Q4 of fiscal 2008 and 24.0 percent in the third quarter of the fiscal 2009.  GAAP net loss for the fourth quarter was $32.0 million, against a net income of $245.9 million in the corresponding period in fiscal 2008 and net income of $136.0 million in the third quarter of this fiscal. GAAP diluted loss per share was $0.06, based on 532.0 million weighted average shares.

Fiscal Year 2009 Results

For the fiscal year 2009, Adobe reported revenues of $2.946 billion against $3.580 billion during the last fiscal. Adobe’s acquisition of Omniture, Inc. contributed revenues of $26.3 million during the fourth quarter. Adobe’s annual GAAP operating income in fiscal 2009 was $690.5 million, compared to $1.028 billion in fiscal 2008. GAAP operating margin was 23.4% in fiscal 2009, compared to 28.7% in fiscal 2008.  GAAP net income was $386.5 million in fiscal 2009, against $871.8 million in fiscal 2008.

“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.”
 

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