Publishing and design software maker Adobe Systems Inc. (ADBE) on Monday reiterated its financial outlook for the second quarter as well as fiscal year 2013, that was earlier provided by the company on March 19.
San Jose, California-based Adobe, famous for its Photoshop editing and Acrobat document-sharing software, said that at a financial analyst briefing that will begin today in Los Angeles, it will discuss the business update as well as its strategy and momentum with Adobe Creative Cloud.
Mark Garrett, executive vice president and chief financial officer of Adobe said, "We are on track to achieve our Q2 and FY13 financial targets, and we're excited about announcements we'll make at MAX today - which are reflected in these targets."
While reporting its financial results for the first quarter on March 19, Adobe forecast second-quarter adjusted earnings in a range of $0.29 to $0.35 per share and revenue of $975 million to $1.025 billion.
On average, analysts polled by Thomson Reuters expect the company to earn $0.34 per share for the quarter on revenues of $1.01 billion. Analysts estimates typically exclude special items.
For fiscal 2013, Adobe forecasts adjusted earnings of $1.45 per share and revenue of about $4.1 billion. Analysts expect the company to report earnings of $1.44 per share for the year on revenues of $4.12 billion.
In March, Adobe reported a 65 percent decline in profit for the first quarter, hurt by lower revenue as well as higher costs and expenses. Net income for the quarter was $65.1 million or $0.13 per share, down from $185.2 million or $0.37 per share in the year-ago period. Revenue declined 4 percent to $1.10 billion from $1.05 billion in the same period last year.
In Monday's regular session, ADBE is trading at $46.85, down $0.16 or 0.34 percent on a volume of 138,518 shares.
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