Jul 31, 2002 (BUSINESS WIRE) -- Adobe Systems Incorporated
(Nasdaq: ADBE), the leader in network publishing, today is providing its regular
intra-quarter business update for its third quarter of fiscal 2002, which ends
August 30, 2002.
With more than four weeks remaining in the quarter, Adobe announced that it is
reducing its third quarter revenue target range to $270 to $290 million from its
previously stated target range of $300 to $320 million. In addition, third
quarter pro forma earnings per share are now targeted at $0.18 to $0.23, down
from the original target of $0.24 to $0.27.
The Company cited lower than expected revenue in the month of July as the reason
for the anticipated shortfall. The revenue decline in July occurred across all
of its business segments and major geographic markets, with particular weakness
in Europe and Japan.
(Nasdaq: ADBE), the leader in network publishing, today is providing its regular
intra-quarter business update for its third quarter of fiscal 2002, which ends
August 30, 2002.
With more than four weeks remaining in the quarter, Adobe announced that it is
reducing its third quarter revenue target range to $270 to $290 million from its
previously stated target range of $300 to $320 million. In addition, third
quarter pro forma earnings per share are now targeted at $0.18 to $0.23, down
from the original target of $0.24 to $0.27.
The Company cited lower than expected revenue in the month of July as the reason
for the anticipated shortfall. The revenue decline in July occurred across all
of its business segments and major geographic markets, with particular weakness
in Europe and Japan.
