Adobe revenue exceeds expectation

Adobe Systems has reported financial results for its first quarter ended February 28, 2003 that exceeded the Company's prior revenue and earnings per share target ranges.

In the first quarter of fiscal 2003, Adobe achieved revenue of $296.9m (€250.7m), compared to $267.9m (€248.8m) reported for the first quarter of fiscal 2002 and $294.7m (€273.7m) reported in the fourth quarter of fiscal 2002.

Adobe's first quarter revenue target range was $275m to $290m.

"Our second consecutive quarter of double digit revenue growth is an excellent start to 2003," said Bruce Chizen, president and CEO.

"These results are particularly encouraging given our strong product line up for the remainder of the year, beginning with a new version of Acrobat targeted to launch in Q2."

Founded in 1982, Adobe Systems Incorporated (www.adobe.com), is a world leader in network publishing, offering a comprehensive line of software for enterprise and creative professional customers.

Its products enable customers to create, manage and deliver visually rich, compelling and reliable content.

Based in San Jose, Calif., Adobe is one of the world's largest software companies.