Adobe Systems Inc. (NASDAQ: ADBE), provider of Acrobat Reader, Photoshop, and other desktop publishing software, is scheduled to discuss its second-quarter 2009 results today in a conference call featuring CEO Shantanu Narayen and CFO Mark Garrett at 5:00 PM ET. You can catch the live webcast of the call on the company's website.
For the quarter in which the San Jose, Calif.-based software and services provider announced collaborations with Facebook, Texas Instruments, and Level 3 Communications, analysts polled by Thomson Reuters expect the cash-rich company to report earnings of $0.35 per share, down 30.0% from the same period of the previous year. Revenue for the quarter ended May 29 is expected to have fallen 21.6% to $695.1 million. These numbers are in line with Adobe's previous forecast. Adobe's earnings have beaten analysts' estimates in the past five quarters by a penny or three per share.
Looking ahead to the full year, the forecast is currently for a $1.49 per share profit (-28.0%) on sales of $2.9 billion (-19.7%). Ongoing concerns include whether Adobe's cost cutting will help mitigate weaker sales, as well whether its Creative Suite 5 (no set release date) can tap into pent up demand from those customers holding back due to the economic climate.
Analysts, on average, expect Adobe's long-term EPS growth rate to be 14.2%, which is better than that of Microsoft (NYSE: MSFT). The First Call consensus recommendation has shifted back and forth between buying and holding ADBE over the past quarter; BloggingStocks contributor Joseph Lazzaro recently recommended Adobe.
The share price has surged about 54% in the past three months, rising above the 200-day moving average, but it is still about 32% lower than it was a year ago.
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