Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, September 23, 2011

Article Excerpt

ADOBE SYSTEMS INC., $24.88, symbol ADBE on Nasdaq, makes software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use Adobe’s software to create print publications and web pages. The company also makes Adobe Flash, which lets web site developers make web pages more interactive by adding animation and video. In its third quarter, which ended September 2, 2011, Adobe’s earnings fell 15.2% to $195.1 million, or $0.39 a share. A year earlier, it earned $230.1 million, or $0.44 a share. Without one-time items, earnings per share would have risen 1.9%, to $0.55 from $0.54. That beat the consensus estimate of $0.54 a share. Revenue rose 2.3%, to $1.01 billion from $990.3 million. That missed the consensus revenue estimate of $1.03 billion. The company spent $181.0 million (or 17.9% of its revenue) on research in the latest quarter. That’s up 7.6% from $168.3 million (or 17.0% of revenue) a year earlier. The higher…