Updated from 4:45 p.m. EST

Adobe Systems ( ADBE) posted fiscal fourth-quarter results Thursday that beat expectations and offered guidance for 2006, including newly acquired Macromedia ( MACR), that exceeded analysts' forecasts.

Separately, Adobe announced the resignation of its CFO.

Under generally accepted accounting principles, San Jose, Calif.-based Adobe reported net income of $156.3 million, or 31 cents a share, in the fourth quarter, which ended Dec. 2. That compared with net income of $113.5 million, or 23 cents a share, a year earlier.

Excluding the net tax impact of the repatriation of certain foreign earnings and investment gains, Adobe earned pro forma net income of $151.5 million, or 30 cents a share in the quarter, compared with pro forma net income of $110.4 million, or 22 cents a share, a year earlier.

Sales soared to 19% from a year earlier to $510.4 million, setting a new record for the company and exceeding the company's guidance.

Analysts were most recently forecasting that Adobe would earn 29 cents a share on $507.1 million in revenue in the fourth quarter, according to Thomson First Call.

In October, Adobe said its results should hit the high end of its targets . Those targets called for earnings ranging from 27 cents to 29 cents a share on sales of $490 million to $510 million.

Earlier this month, Adobe, which makes digital document publishing and design software, closed its $3.4 billion purchase acquisition of Macromedia, the maker of Flash software used to display graphics on Web sites.

Adobe has already started bundling Macromedia and Adobe products, a few months earlier than some analysts expected.

"The integration of the two companies is progressing rapidly," CEO Bruce Chizen said on a postclose conference call.

Looking forward, Adobe expects first-quarter revenue to range from $630 million and $660 million, first-quarter GAAP earnings to range from 13 cents to 16 cents a share and non-GAAP earnings of 28 cents to 30 cents a share.

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