Adobe, Great Plains, see upside
Pushing ahead of last year's performance, Adobe Software and Great Plains Software post improved results.
Adobe posted fourth-quarter net profits of $41 million, or 56 cents a share, for the quarter ending November 28, compared with earnings of $35.9 million, or 49 cents a share, a year ago. Wall Street had expected the company to post earnings of 55 cents a share, according to First Call.
Adobe's revenues rose to $227.1 million for the quarter, up from $207.7 million a year ago. Applications revenues reached $180.8 million, up from $157.6 million for the same quarter last year. Fifty-six percent of the company's applications revenues came from product sales for the Windows platform, while 44 percent were for the Macintosh.
Adobe posted revenues of $911.9 million for the year, up from $786.6 million the previous year. Its net profits reached $186.8 million, compared with $153.3 million a year ago.
Great Plains, meanwhile, posted a jump in second-quarter profits, up to $2.1 million for the quarter, compared with $650,000 a year ago.
The company's revenues reached $20 million for the quarter, a 46 percent jump over the previous year. Great Plains said its client/server product offerings racked up $17.9 million of those revenues, a 60-percent increase over last year.
Great Plains, which went public in June, surpassed Wall Street's estimates during the previous quarter. This quarter it did the same, reporting earnings of 15 cents a share when Wall Street had expected 13, according to First Call.