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Revenue for the second quarter was USD317.4 million, down about 8 percent from the USD344.1 million the firm reported in the same quarter in 2001. Revenue for Adobe's first quarter was USD267.9 million.
Beating the consensus estimate on Wall Street by USD0.02 per share, Adobe reported pro forma earnings for its second quarter, which excluded restructuring, acquisition-related write-downs and other charges, of USD96.4 million, or USD0.27 a share, down from USD121.5 million, or USD0.34, in the year-ago quarter.
But the company disappointed analysts, and drove shares down in after hours trading, by cutting its forecasts for the current quarter. The employer of 90 in Ireland said it now expects third quarter sales in a range of USD300 million to USD320 million, with earnings between USD0.24 and USD0.27 a share. Analysts had expected sales of USD328 million and third-quarter earnings around USD0.26.
"Despite a continuing soft economy, we had a solid quarter with a strong release of Photoshop," said Bruce R. Chizen, president and chief executive officer of Adobe. "Strategically, we took steps to realise the large Acrobat opportunity in the enterprise with the closure of our Accelio acquisition and our new SAP relationship."
Adobe employs 25 people in Ireland in a treasury management and finance centre in Dublin. It also has 65 workers at its electronic forms division, formerly known as Accelio, prior to its acquisition by Adobe in April of this year.
Adobe announced in April that 200 workers worldwide would become redundant primarily in sales and administrative positions, but has not yet said where the redundancies will take place.
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