UPDATE 3-Adobe results at top end of view, shares rise

* Sees Q1 earnings 43 cents to 47 cents per share

* Q4 Revenue is $915.3 million, up 0.5 pct

* Stock up 10.7 pct after hours (Adds analyst, CFO comment. Previous dateline SAN FRANCISCO)

BOSTON, Dec 16 (Reuters) - Design software maker Adobe Systems Inc (ADBE.O) posted an 11 percent rise in fourth quarter net income, matching the top end of the company's recently lowered forecast, and its shares rose 10.7 percent.

Adobe, maker of Acrobat Reader, Flash and Photoshop software, also forecast results for the current quarter ending in February that were in line with analysts' estimates.

"There wasn't really any significant changes from their pre-announcement. That's a positive because people perceive that over the past two weeks since they pre-released the macro environment has gotten worse," said Piper Jaffray analyst Mike Olson.

"People think Adobe has lowered the bar, that they've set themselves up for hitting the numbers going forward," he added.

Jefferies analyst Ross MacMillan said there were no surprises in the results or during an analyst conference call.

"To me this was an in-line report. I didn't learn anything new," he said. "It's possible the market thought they were going to revise further."

Net income in the fourth quarter ended Nov 28 rose to $245.9 million or 46 cents per share from $222.2 million or 38 cents a year earlier.

Quarterly profit, excluding special items, was 60 cents per share, at the top end of its earlier forecast.

Earlier this month, Adobe said it expected earnings of 59 to 60 cents a share, excluding items, and 45 cents to 46 cents a share including items.

Revenue rose less than 1 percent to $915.3 million from $911.2 million. That was its slowest growth rate in seven quarters.

Adobe forecast fiscal first-quarter earnings would be between 43 cents and 47 cents per share, excluding one-time items, in line with the Reuters Estimate average of 45 cents.

Including items, the company expects to earn between 30 cents and 35 cents a share.

The company kept its revenue forecast for the fiscal first quarter ending in February to the range it set earlier this month, between $800 million and $850 million.