Targets revenue of $875m to $925m in second quarter
Design and desktop publishing software provider Adobe Systems has reported revenue of $858.7m in the first quarter of fiscal 2010, an increase of 9% compared to $786.4m in the same period last year.
The company posted an operating income of $176.8m, compared to $207.9m in the same period last year and $153.6m in the fourth quarter of fiscal 2009. As a percent of revenue, operating income was 20.6%, compared to 26.4% in the same period last year.
For the first quarter ended March 5, 2010, the company reported a net loss of $127.2m, down 19% compared to net income of $156.4m in the same period last year.
Shantanu Narayen, president and CEO of Adobe, said: “Stability in our creative business, combined with strength in our Acrobat and Omniture solutions, helped drive strong financial performance in Q1.
“The market trends enabling our diverse business remain strong and we are bullish about the upcoming launches of Flash Player and Creative Suite.”
Looking ahead, the company is targeting revenue of $875m to $925m and operating margin to be 21% to 24.5% in the second quarter of fiscal 2010.