Adobe ceo Shantanu Narayen told financial analysts that his company's revenues fell to $697.5 million in Q3 -- down 21.3% from a year ago. Profits fell by 30.8%.
"Our Acrobat Business continues to be impacted by the economy while our Web Conferencing solution, Connect Pro, had a strong quarter," summarized cfo Mark Garrett. Adobe added 127 employees, but most were for R&D and "located in lower cost geographies." That, after laying off 600 in time for last Christmas.
The company has $2.6 billion of cash in the bank.
The pending acquisition of Omniture will add roughly $1.3 billion in annual revenues. "The addition of Omniture's online marketing suite will help customers measure, analyze, and optimize the impact and value of those experiences, creating a continuous feedback loop to maximize business results," explained Mr Narayen.
More analyst-speak:
Mark Garrett, Adobe: "We are not assuming a lot of cost synergies in this. It's accretive without that."
Sarah Friar, Goldman Sachs: "And maybe Shantanu on the broader product synergy thought."
Source.
"Our Acrobat Business continues to be impacted by the economy while our Web Conferencing solution, Connect Pro, had a strong quarter," summarized cfo Mark Garrett. Adobe added 127 employees, but most were for R&D and "located in lower cost geographies." That, after laying off 600 in time for last Christmas.
The company has $2.6 billion of cash in the bank.
The pending acquisition of Omniture will add roughly $1.3 billion in annual revenues. "The addition of Omniture's online marketing suite will help customers measure, analyze, and optimize the impact and value of those experiences, creating a continuous feedback loop to maximize business results," explained Mr Narayen.
More analyst-speak:
Mark Garrett, Adobe: "We are not assuming a lot of cost synergies in this. It's accretive without that."
Sarah Friar, Goldman Sachs: "And maybe Shantanu on the broader product synergy thought."
Source.
First Macromedia now this....whats next Adobe? Google then the world?
Posted by: Constant Gina | Sep 16, 2009 at 04:12 PM