Adobe Backs Targets

The company reiterates sales and adjusted earnings projections, and boosts its GAAP EPS forecast.
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Adobe Systems

(ADBE) - Get Report

affirmed its fiscal fourth-quarter revenue and adjusted earnings forecasts, and said its overall bottom line will be boosted by a gain on the sale of an equity investment.

The software maker said Wednesday that it still expects to post sales of $655 million to $685 million for the quarter ending Dec. 1. The company also reiterated its target for earnings of 32 cents to 34 cents a share, before one-time items.

Analysts polled by Thomson First Call project earnings of 33 cents a share and revenue of $670 million.

Including all items, Adobe now anticipates earnings under generally accepted accounting principles of 29 cents to 32 cents a share, up from an earlier target of 19 cents to 22 cents. In addition to the gain on the investment, the company said it also had lower-than-expected stock options costs in the quarter.

The San Jose, Calif.-based company said it has seen solid demand in its major markets so far in the quarter. The company plans to ship a new version of its Adobe Acrobat software during the first week of November.