ADOBE SYSTEMS $32.46 - Nasdaq symbol ADBE

ADOBE SYSTEMS $32.46 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 493.8 million; Market cap: $16.0 billion; No dividends paid) makes software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use its software to create print publications and web pages.

The company also makes Adobe Flash, which lets website developers make their pages more interactive by adding animation and video.

Adobe recently stopped making Flash for smartphones and other mobile devices. Instead, it will focus on developing products that are based on the newer HTML5 Internet standard.

Meanwhile, strong demand for Adobe’s products pushed up its revenue by 11.0% in its third quarter, which ended December 2, 2011, to a record $4.2 billion from $3.8 billion in 2010.

Earnings rose 20.0%, to $1.2 billion from $1.0 billion. Adobe spent $695 million on share buybacks in the past year. Because of fewer shares outstanding, earnings per share rose 21.8%, to $2.35 from $1.93.

The company holds cash of $2.9 billion, or $5.78 a share. Its long-term debt of $1.5 billion is a low 9.4% of its $16.0-billion market cap.

Adobe Systems is still a hold.

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