Adobe Systems Issues Q2 2012 Guidance Below Analysts' Estimates; Raises FY 2012 Guidance

Adobe Systems announced that for the second quarter of 2012, it expects revenue to be in the range of $1.090-$1.140 billion and diluted earnings per share (EPS) to be in the range of $0.37-$0.43 on a GAAP basis, and $0.57-$0.61 on a non-GAAP basis. For fiscal 2012, it has increased its revenue growth target to a range of 6%- 8%, versus its prior target range of 4%-6%, diluted earnings per share (EPS) targeted in the range of $1.63-$1.73 on a GAAP basis, and $2.38-$2.48 on a non-GAAP basis. The Company reported revenue of $4.216 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.182 billion and EPS of $0.64 per share for the second quarter of 2012.