Adobe's reports fourth quarter; 2009 'challenging'

Adobe's fiscal fourth quarter results were at the high end of the range it gave Dec. 3.

Adobe's fiscal fourth quarter results were at the high end of the range it gave Dec. 3.

Adobe on Tuesday reported fourth quarter earnings of $245.9 million, or 46 cents a share, on revenue of $915.3 million, up slightly from the $911.2 million in sales for the same quarter in 2007. The sales tally was slightly above the range Adobe gave a few weeks ago when it announced layoffs. Excluding charges, Adobe had earnings of 60 cents a share. Wall Street was expecting earnings of 58 cents a share.

In a statement, Shantanu Narayen, CEO of Adobe, said he expects that 2009 will "be a challenging year." For the first quarter, Adobe projected revenue of $800 million to $850 million. Wall Street was expecting revenue of $842 million for the first quarter with earnings of 44 cents a share excluding items.

Here's a look at the other first quarter projections, which are roughly in line with expectations.

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Despite the fourth quarter swoon, Adobe had a strong 2008. It reported net income of $871.8 million, or $1.59 a share, on revenue of $3.58 billion, up 13 percent from a year ago.

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