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Dividend.com: Adobe Systems' Failure

Stock quotes in this article: ADBE , PEG , DRI , HCBK  

Adobe Systems Profit Fall 29% in First Quarter

Shares of Adobe Systems (ADBE Quote) were up slightly in the premarket, after the company reported first-quarter profit that fell to $156.4 million, or 30 cents per share, compared to $219.4 million, or 38 cents per share, a year earlier.

The company said sales dropped 12% to $786.4 million, as the slow economic activity put a damper on sales of Creative Suite 4, the latest version of the software package that brings in the bulk of Adobe's revenue.

Looking ahead, management is forecasting second-quarter EPS of 31 cents to 38 cents per share, around the consensus of 35 cents. ...

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