Adobe Reports Record Quarterly and Annual Revenue

adobe_logoOh, the corporate world. Only 10 days Adobe announced the elimination of 600 jobs on the grounds of "weaker than excpected Q4 earings". And now this: "Company Achieves 13 Percent Annual Growth SAN JOSE, Calif. — Dec. 16, 2008 — Adobe Systems Incorporated (Nasdaq:ADBE) today reported financial results for its fourth quarter and fiscal year ended Nov. 28, 2008. In the fourth quarter of fiscal 2008, Adobe achieved record revenue of $915.3 million, compared to $911.2 million reported for the fourth quarter of fiscal 2007 and $887.3 million reported in the third quarter of fiscal 2008. The Company’s reported fourth quarter revenue was slightly above the preliminary revenue range of $912 million to $915 million it provided on Dec. 3, 2008. “Despite a difficult economic environment in 2008, we were able to achieve record revenue and double digit growth for the sixth consecutive year,” said Shantanu Narayen, president and CEO. “In addition, our consistent execution and disciplined expense management enabled us to significantly exceed our profit targets. Although we expect 2009 will be a challenging year, we remain excited about the long term market trends driving our business, and are confident we will emerge from the current recession stronger than ever.” "