Graphics software vendor Adobe fared well for its first fiscal quarter and said it anticipated positive growth in the year ahead.
Adobe generated revenues of $226.9 million, up from $197.8 million a year ago, and turned in net income of $38.3 million, up from $26.7 million in the year ago quarter. Earnings per share were $0.60, exceeding the First Call analysts? consensus estimate by $0.08.
John Warnock, Adobe?s chairman and chief executive, said he saw "positive momentum" for the year ahead, with several key products set to ship in the second and third quarters of this year.
"We remain committed to a fiscal year 1999 annual revenue growth rate of 15 per cent, after divested businesses, with an annual operating margin of 25 per cent," he said, and advised analysts to raise their estimates for the company?s second quarter.
Adobe has just launched Golive 4.0, a new version of the Web design package it acquired in January to fill a gap in its product portfolio, and Indesign, a page layout package that has been called a "Quark killer". It also appears to be benefiting from revitalisation at Apple Computer. For the second consecutive quarter, Adobe?s sales of Macintosh software outgrew Windows software sales, reversing a longtime trend.
Some 43 per cent of revenues were generated from the Macintosh platform, up from 41 per cent a year ago. Warnock ascribed this to the success of the introduction of the newest Powermac G3 systems.
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