Adobe blasted analysts' predictions last week with a first-quarter net income way above expectations.
Net income for the three months ended 28 February was $46.5 million (#28.75 million), or $0.63 a share, compared to $33.7 million, or $0.44 a share, a year earlier. The results prompted an 11% rise in Adobe's share price.
The company attributed its results to massive sales of the recently upgraded versions of Photoshop and Pagemaker. According to the figures, retail product revenues were split 50:50 between sales of Windows and Mac-based products.
Operating revenues were $226.5 million, compared to $193.6 million last year. Revenues from application products were $175 million, compared to $146.7 million for the first quarter of 1996. Licensing revenues were $51.5 million, against $46.9 million last time.
In a statement, John Warnock, Adobe's chairman and CEO, said: "We are pleased with the solid results achieved in this quarter. It reflects the broad and growing acceptance of our products on both Windows and Macintosh platforms in both traditional markets and emerging markets such as Internet and intranet communications and Web site design and content creation."
A healthy set of Q1 results and deservedly so. For a company that has failed to break Quark's stranglehold on the professional DTP arena, Adobe has carried on regardless and come up with first-class products across the board.
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