Adobe Systems on Thursday reported 43 per cent revenue growth for its first quarter ending March 5, 2004. The company also reported $423.3 million (around £233 million) in revenue for the first quarter of Adobe's FY 2004, a number substantially higher than Adobe's guidance -- the company expected closer to $405 million (£223 million).
Net income for the quarter was $123 million (£68 million), compared to $54.2 million (£30 million) for the same quarter a year ago -- a 127 per cent year-over-year improvement -- and $83.3 million (£46 million) for the previous quarter.
Adobe President and CEO Bruce Chizen attributed the strong quarterly revenue to the company's Creative Suite software, as well as its Intelligent Documents business.
Adobe is targeting revenues of $365 to $385 million (£200 to £212 million) for the second quarter of FY 2004, and has raised its revenue target for the year from $1.475 to $1.5 billion (from £811 to £825 million).