Adobe Systems has won the patent infringement case brought against it by UK company Quantel and has announced that impressive sales of publishing software helped increase its turnover and profit in its third quarter to 29 August.
Quantel charged Adobe in January 1996 with copying software but a Californian court disagreed. Adobe chairman and CEO John Warnock said the case, which involved Adobe Photoshop, was unfounded. "We are pleased that the jury system worked. The case demonstrates that companies can vigorously defend these cases on their merits and win."
The company said sales of its Windows-based packages grew and claimed its Macintosh-based sales were steady. The company made $53.4 million profit, up 53 per cent from $34.9 in the same period last year, on turnover of $230 million, up 76 per cent from $130.5 million.
Warnock said: "We are pleased with achieving record revenue in the normally slower summer quarter." Adobe?s profit was almost double the amount analysts expected.
The company also launched a stock repurchase scheme, under which it will buy back 15 million shares over the next two years, after assessing its cash position.
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