Adobe Systems Reaffirms 4Q Outlook

SAN JOSE, Calif. (AP) — Software maker Adobe Systems Inc. on Wednesday reafirmed its outlook for its fiscal fourth quarter.

The company projects earnings of 23 cents to 29 cents per share on sales of $690 to $740 million for the three months ending Nov. 27.

Excluding one-time items, Adobe expects to earn 33 cents to 39 cents per share.

Analysts polled by Thomson Reuters, who typically exclude special items from their estimates, expect 37 cents and sales of $723 million, on average.

In the same quarter last year, Adobe posted adjusted earnings of 60 cents per share on sales of $915.3 million.

Adobe plans to report results on Dec. 15 after the market closes.

The San Jose, Calif., company is in the process of acquiring Omniture Inc., an Orem, Utah, company that makes online business optimization software, which it sells as an on-demand subscription service.

Shares of Adobe fell 13 cents to $33.38 in morning trading.