Click here to close now.

Welcome!

You will be redirected in 30 seconds or close now.

ColdFusion Authors: Yakov Fain, Maureen O'Gara, Nancy Y. Nee, Tad Anderson, Daniel Kaar

Related Topics: PHP, ColdFusion, Adobe Flex, IoT User Interface

PHP: News Item

Adobe Reports Fourth Quarter and Fiscal 2009 Results

Fourth quarter fiscal 2009 results include the impact of the Company’s acquisition of Omniture, Inc.

Adobe Systems Incorporated (Nasdaq:ADBE) on Tuesday reported financial results for its fourth quarter and fiscal year ended Nov. 27, 2009.

In the fourth quarter of fiscal 2009, Adobe achieved revenue of $757.3 million, compared to $915.3 million reported for the fourth quarter of fiscal 2008 and $697.5 million reported in the third quarter of fiscal 2009.

Fourth quarter fiscal 2009 results include the impact of the Company's acquisition of Omniture, Inc.

"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."

Fourth Quarter Fiscal 2009 GAAP Results
Included in Adobe’s fourth quarter results was revenue of $26.3 million as a result of the close of the acquisition of Omniture on Oct. 23, 2009. In accordance with business combination accounting guidelines, $8.3 million of Omniture deferred revenue was excluded from Adobe’s fourth quarter results and Adobe will not recognize this revenue going forward.

GAAP operating income was $153.6 million in the fourth quarter of fiscal 2009, compared to $273.2 million in the fourth quarter of fiscal 2008 and $167.6 million in the third quarter of fiscal 2009. As a percent of revenue, GAAP operating income in the fourth quarter of fiscal 2009 was 20.3 percent, compared to 29.8 percent in the fourth quarter of fiscal 2008 and 24.0 percent in the third quarter of fiscal 2009.

For the fourth quarter of fiscal 2009, GAAP net loss was $32.0 million, compared to net income of $245.9 million reported in the fourth quarter of fiscal 2008 and net income of $136.0 million in the third quarter of fiscal 2009.

GAAP diluted loss per share for the fourth quarter of fiscal 2009 was $0.06, based on 532.0 million weighted average shares. This compares with GAAP diluted earnings per share of $0.46 reported in the fourth quarter of fiscal 2008 based on 534.9 million weighted average shares, and GAAP diluted earnings per share of $0.26 reported in the third quarter of fiscal 2009 based on 531.8 million weighted average shares.

Fourth Quarter Fiscal 2009 Non-GAAP Results
Adobe’s non-GAAP operating income was $265.2 million in the fourth quarter of fiscal 2009, compared to $374.9 million in the fourth quarter of fiscal 2008 and $237.1 million in the third quarter of fiscal 2009. As a percent of revenue, non-GAAP operating income in the fourth quarter of fiscal 2009 was 35.0 percent, compared to 41.0 percent in the fourth quarter of fiscal 2008 and 34.0 percent in the third quarter of fiscal 2009.

Non-GAAP net income was $206.8 million for the fourth quarter of fiscal 2009, compared to $320.9 million in the fourth quarter of fiscal 2008 and $186.1 million in the third quarter of fiscal 2009.

Non-GAAP diluted earnings per share for the fourth quarter of fiscal 2009 were $0.39. This compares with non-GAAP diluted earnings per share of $0.60 reported in the fourth quarter of fiscal 2008 and non-GAAP diluted earnings per share of $0.35 reported in the third quarter of fiscal 2009.

Reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

Fiscal Year 2009 Results
In fiscal year 2009, Adobe achieved revenue of $2.946 billion, compared to $3.580 billion in fiscal 2008. Adobe’s fiscal 2009 results include the impact of the Company’s acquisition of Omniture, Inc., which contributed revenue of $26.3 million in the fourth quarter. Excluded from Adobe’s fiscal 2009 results is Omniture deferred revenue of $8.3 million, pursuant to business combination accounting guidelines, as noted previously.

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, compared to $871.8 million in fiscal 2008. Adobe’s annual non-GAAP net income was $814.7 million in fiscal 2009, compared to $1.136 billion in fiscal 2008.

GAAP diluted earnings per share for fiscal 2009 were $0.73, compared to $1.59 in fiscal 2008. Non-GAAP diluted earnings per share for fiscal 2009 were $1.54, compared to $2.07 in fiscal 2008.

Reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

First Quarter Fiscal 2010 Financial Targets
For the first quarter of fiscal 2010, Adobe is targeting revenue of $800 million to $850 million. This first quarter target range includes estimated revenue of approximately $78 million to $83 million from the Company’s Omniture Business Unit, and excludes an estimated $14.7 million in Omniture first quarter deferred revenue pursuant to business combination accounting guidelines, as noted previously.

Adobe’s first quarter operating margin is targeted to be 19 percent to 21 percent on a GAAP basis, and 30 percent to 32 percent on a non-GAAP basis. In addition, the Company is targeting its share count to be between 530 million and 532 million, and it is targeting non-operating other income to be a loss between $2 million and $4 million. Adobe’s GAAP and non-GAAP tax rate is expected to be approximately 24 percent.

These targets lead to a first quarter diluted earnings per share target range of $0.21 to $0.25 on a GAAP basis, and an earnings per share target range of $0.34 to $0.39 on a non-GAAP basis.

Reconciliation between these GAAP and non-GAAP financial targets is provided at the end of this press release.

Forward-Looking Statements Disclosure
This press release contains forward-looking statements, including those related to revenue, operating margin, non-operating income, tax rate, share count, earnings per share and business momentum, which 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: the ongoing economic downturn and continued uncertainty in the financial markets and other adverse changes in general economic or political conditions in any of the major countries in which Adobe does business, failure to develop, market and distribute new products and services or upgrades or enhancements to existing products and services that meet customer requirements, failure to realize the anticipated benefits of past or future acquisitions, including our acquisition of Omniture, and difficulty in integrating such acquisitions, introduction of new products, services and business models by existing and new competitors, failure to successfully manage transitions to new business models and markets, difficulty in predicting revenue from new businesses, costs related to intellectual property acquisitions, disputes and litigation, inability to protect Adobe’s intellectual property from third-party infringers, or unauthorized use, disclosure or malicious attack, security vulnerabilities in our products and systems, interruptions or delays in services from, security or privacy breaches, or failure in data collection from third-party service providers that host or deliver services, failure to manage Adobe’s sales and distribution channels effectively, disruption of Adobe’s business due to catastrophic events, risks associated with international operations, fluctuations in foreign currency exchange rates, changes in, or interpretations of, accounting principles, impairment of Adobe’s goodwill or intangible assets, changes in, or interpretations of, tax rules and regulations, Adobe’s inability to attract and retain key personnel, impairment of Adobe’s investment portfolio due to deterioration of the capital markets, market risks associated with Adobe’s equity investments, and interruptions or terminations in Adobe’s relationships with turnkey assemblers. For further discussion of these and other risks and uncertainties, individuals should refer to Adobe’s SEC filings.

The financial information set forth in this press release reflects estimates based on information available at this time. These amounts could differ from actual reported amounts stated in Adobe’s Annual Report on Form 10-K for our fiscal year ended Nov. 27, 2009, which the Company expects to file in January 2010. Adobe does not undertake an obligation to update forward-looking statements.

About Adobe Systems Incorporated
Adobe revolutionizes how the world engages with i
eas and information – anytime, anywhere and through any medium. For more information, visit www.adobe.com.

© 2009 Adobe Systems Incorporated. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries. All other trademarks are the property of their respective owners.  

More Stories By Salvatore Genovese

Salvatore Genovese is a Cloud Computing consultant and an i-technology blogger based in Rome, Italy. He occasionally blogs about SOA, start-ups, mergers and acquisitions, open source and bleeding-edge technologies, companies, and personalities. Sal can be reached at hamilton(at)sys-con.com.

@ThingsExpo Stories
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Among the proven benefits, DevOps is corr...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and high availability solutions, leveraging the cloud and the benefits of Infrastructure-as-a-Service (IaaS...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare to be blown away with a glimpse of the future.
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the cloud and the best price/performance value available. ProfitBricks was named one of the coolest Clo...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are rapidly redefining traditional integration approaches and their reliance on proprietary connectors. ...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context wi...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fillin...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.