Adobe Systems Provides Intra-Quarter Business Update

Adobe Systems Provides Intra-Quarter Business Update

Adobe Systems Incorporated (NASDAQ: ADBE) today is providing its regular intra-quarter business update for its second quarter of fiscal 2006, which ends June 2, 2006. With approximately five weeks remaining in the quarter, Adobe announced it believes it will achieve quarterly results toward the low end of the financial target ranges it provided on March 22, 2006.

The Company’s Q2 FY2006 target ranges are the following: revenue of $640 to $670 million; GAAP earnings per share of $0.18 to $0.21; non-GAAP earnings per share of $0.30 to $0.32; a GAAP operating margin of 22 to 24 percent; and a non-GAAP operating margin of 37 to 38 percent. In its update, the Company indicated it experienced weaker than expected demand during the Spring holiday periods in Europe and North America. The Company plans to report its second quarter fiscal 2006 results on June 15, 2006 after the market closes.

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