newsbytes@clarinet.com (01/14/90)
AMSTERDAM, THE NETHERLANDS, 1990 JAN 13 (NB) -- Adobe Systems Incorporated has announced its fourth quarter and fiscal 1989 operating results are a record. Revenue for the fourth quarter ended 1 December, 1989, was $37.703 million, compared to $25.265 million for the same period the previous year. Net income for the fourth quarter was $10.041 million compared to $6.659 million for the same period the preceding year. For the complete year to 1 December, 1990, Adobe achieved revenues of $121.358 million - an increase of 45 percent on the $83.483 million reported the previous year. Net income for the year was $33.706 million - up 60 percent on the $21.08 million reported in 1988. Announcing the figures last week, Jerry Byma, Adobe's managing director, said that the bulk of the company's profits continued to stem from royalties for its Postscript languages. Royalty revenue in the systems business jumped from $61.617 million in 1988 to $81.877 million in 1989. At the same time, Adobe's royalty-paying customers increased from 13 to 19 during the year. Newsbytes notes that income from Apple Computer, a major customer of Adobe's, accounted for 21 percent of the company's total income during the fourth quarter, indicating a downward trend on the 25 percent for the year to 1 December, 1989 as a whole. (Steve Gold/19900113/Press Contact: Jerry Byma, Adobe Systems Europe - Tel: +31-20-767661)