Adobe Systems Incorporated, (ADBE): Founded in 1982 and headquartered in San Jose, California, Adobe Systems Incorporated, provides business and mobile software and services worldwide. Building on its success with PostScript technology, Adobe expanded into desktop software applications with Adobe Illustrator and Adobe Photoshop software, Adobe Acrobat Software and the Adobe Portable Document Format (PDF).
On Tuesday June 17, 2009, Adobe reported second quarter net income of $126.1 million, or 24 cents a share, a 41% drop compare to #214.9 million or 40 cents a share income in the same quarter a year earlier. Excluding unusual items, the company would have earned 35 cents a share, which meets the markets expectation for the quarter ended May 2009.
Market is expecting a profit of 34 cents a share for the quarter ended August 2009, which is 16 cents below its actual profit it posted a year ago in the same quarter. The company matched the markets expectation in last quarter, and exceeded markets expectation in previous three quarters by an average of 4.8%.
ADBE is in my BUY watch list for short term trading. Earnings for the quarter ended August 2009, is scheduled to be released on September 15, 2009 after the market close.
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