Adobe stock plunges 23% after report of loss
Article Abstract:
Adobe Systems' stock fell 23% as the company announced losses of $11.8 million for 4th qtr FY 1995. Adobe stock closed at $45 on Jan 4, 1996, in after-hours trading, down $13.50 from its official closing price of $58.50. Adobe's losses are the result of recent acquisitions, which increased operating costs. Analysts say the company's core products, including its Postscript language for laser printers, remain strong. The quarter's losses include a $31.5 million charge for the acquisition of Frame Technology and a $15 million charge for Ceneca Communications. In 1994, Abobe's 4th qtr losses reached $45.2 million, due to write-offs and charges totaling $84.6 million. In 1995, 4th qtr earnings without the charges would have been $30.5 million, in comparison to the $30.1 million in 4th qtr 1994. For 1995, 4th qtr revenues total $200.9 million, up 7% from $187.6 million in 4th qtr 1994.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Microsoft says earnings outdo expectations
Article Abstract:
Microsoft Corp.'s third-quarter earnings exceeded forecasts. Earnings were $1.92 billion for the quarter ending March 31, up 43% from earnings of $1.34 billion a year before. Revenue was up $4.33 billion from $3.77 billion, or 15%. Before results were released, shares closed at $83.125, up $2.125. Results appeared unaffected by the company's legal battle with the Justice Department. Fourth-quarter revenue is expected to grow about $500 million compared with the third quarter, stimulated by the release of Office 2000 which will begin to ship this month.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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