GAAP net income shrank by 6.6% year over year, landing at $191.6 million. A generous share buyback program still boosted earnings per share to $0.35 -- a penny ahead of last year's take. More importantly, sales grew 4% to $887 million, despite the fact that we're comparing these figures to the wildly successful launch of Adobe's flagship product package, Creative Suite 3. It's like comparing kumquats to watermelons, and the tiny sweet-and-sour citrus fruit still comes up big.
In other words, business is strong even in the face of financial disasters and skies falling all around Adobe's ears. The best news of all? This is the platform from which the company now gets to launch Creative Suite 4 in a couple weeks. Take a look at how sales and earnings skyrocketed on the back of CS3, and then tell me that you're not excited about the potential of this encore. With a straight face, please.
Banks and insurance companies hardly form the core of Adobe's target market. Economic trend-averse companies like Walt Disney
Microsoft is a Motley Fool Inside Value recommendation. Google is a Motley Fool Rule Breakers selection. Walt Disney and Apple are Motley Fool Stock Advisor recommendations. Try any of our Foolish newsletters today, free for 30 days.
Fool contributor Anders Bylund owns shares of Google and Disney, but holds no other position in any of the companies discussed here. You can check out Anders' holdings if you like, and Foolish disclosure likes its moats deep, wide, and filled with mutant sharks.
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