Adobe Systems Incorporated Issues Q3 2012 EPS Outlook; Revenue Below Analysts' Estimates; Raises FY 2012 EPS Outlook; Lowers High End Of Prior FY 2012 Revenue Outlook To A Range In Line With Estimates

Adobe Systems Incorporated announced that for third quarter of 2012, it expects revenue of $1.075-$1.125 billion, diluted earnings per share basis to a range of $0.38-$0.43 on a GAAP basis, and $0.56-$0.61 on a non-GAAP basis. For fiscal 2012, the Company narrowed its annual revenue growth target to a range of 6% to 7%, versus its prior target range of 6% to 8%. Adobe also adjusted its annual GAAP diluted earnings per share target range to $1.69-$1.76 from its prior targeted range of $1.63-$1.73; and its non-GAAP diluted earnings per share target range to $2.40-$2.46 from its prior targeted range of $2.38-$2.48. The Company reported revenue of $4.216 billion in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.132 billion, EPS of $0.61 for second quarter of 2012, revenue of 4.494 billion and EPS of $2.44 for fiscal 2012.