SAN JOSE, Calif. -- Adobe Systems chairman John Warnock said
acting Apple chief executive Steve Jobs is making a difference.
Warnock credited a Macintosh sales rebound to the former Apple
co-founder's "re-engagement at Apple [that] gave Mac users hope."
Adobe attributed its recent profit gain of 55 percent in the third fiscal
quarter in part to solid Mac software sales.
Ironically, in the preceding quarter, Adobe announced its
Windows-platform product sales exceeded Mac product sales for the
first time in the company's history.
On Friday, Adobe said earnings from operations rose to $41 million,
or 55 cents per share, in the third fiscal quarter ended Aug. 29, from
$26.4 million, or 36 cents per share, for the same time last year.
Adobe officials attributed the increase in part to one-time gains from
the sale of investments in Netscape Communications, in Mountain
View, Calif. Adobe posted net income of $53.4 million, or 72 cents
per share, in the quarter. Wall Street had expected earnings of 48 cents
per share, according to First Call. Sales jumped 27 percent to $230
million from $181 million.
Adobe also announced that a federal jury in Delaware dismissed
patent-infringement charges brought against the company by Quantel,
a U.K. corporation.
Licensing revenue was $45.2 million, down from $50.4 million in the
third quarter of fiscal 1996. Adobe officials credited the decline to
factors affecting OEMs, primarily in the Japanese market.
The company also announced a share-buyback plan. Under the plan,
recently authorized by Adobe's board of directors, the company will
repurchase up to 15 million shares of its common stock during the next
Care about people's approval and you will be their prisoner.
-Toa Te Ching