Adobe Systems Inc., symbol ADBE on Nasdaq, makes software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use the technology stock’s software to create print publications and web pages.
The company also makes Adobe Flash, which lets web site developers make web pages more interactive by adding animation and video. Computer users can download the technology stock’s Flash Player viewer for free.
In its 2011 first quarter, which ended March 4, 2011, Adobe earned $298.1 million. That’s up 40.8% from $211.7 million a year earlier. Earnings per share rose 45.0% to $0.58 from $0.40, on fewer shares outstanding. These figures exclude several unusual items, including gains on the sale of investments and income-tax adjustments. On this basis, the latest earnings beat the consensus estimate of $0.57 a share.
Revenue rose 19.7%, to a record $1.0 billion from $858.7 million. The Americas (49% of overall revenue) rose 24.0%. Europe, the Middle East and Africa (31% of revenue) rose 14.4%, and Asia (20% of revenue) was up 18.0%. The company saw sales gains across all of its divisions, except for print and publishing, which declined 1.8%
The uncertain business environment in Japan following the earthquake and tsunami is expected to reduce the technology stock’s second-quarter revenue by about $50.0 million. Japan is Adobe’s second-biggest source of revenue by country.
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