March 21, 2006
Adobe Seen Reporting First-Quarter Results Inline With Estimates
Source: Yahoo Business News Via AP
NEW YORK (AP) — Publishing software maker Adobe Systems Inc. reports first-quarter earnings on Wednesday, March 22, after market close. The following is a summary of key developments and analyst opinion related to the period.
EXPECTATIONS: Analysts polled by Thomson Financial expect the company to earn, on average, 29 cents per share on $650.27 million in revenue. In January, the company backed guidance and said it expects to earn 13 cents to 16 cents per share, including certain charges and expenses, and 28 cents to 30 cents per share, excluding those charges. Revenue for the quarter is expected to be $630 million to $660 million in revenue.
ANALYST TAKE: Analysts aren’t expecting a blowout quarter, but Piper Jaffray analyst Gene Munster believes there could be modest upside.
“Based on our checks with Adobe volume license distributors and our analysis of NPD data, we expect the company will report results slightly above Street estimates of 29 cents per share on $650.3 million in revenue, at the high end of the previously provided guidance,” Munster wrote in a note.