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BUSINESS
November 11, 2009 | Bloomberg News
Adobe Systems Inc., the world's biggest maker of graphic-design programs, plans to cut 680 jobs, or about 9% of its global workforce, as the company copes with a lingering sales slump. Adobe will record $65 million to $71 million in pretax expenses, including costs for shutting offices and severance pay, according to a regulatory filing Tuesday. Adobe expects to report additional costs related to its $1.8 billion purchase of Omniture Inc. last month. Adobe Chief Executive Shantanu Narayen is dealing with a slowdown in demand for software from advertisers and other creative professionals.
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CALIFORNIA | LOCAL
September 22, 2009 | Corina Knoll
Which way to the Michael White Adobe? "The what?" "Is that, like, a classroom or something?" "I have no idea." After the final bell at San Marino High School, students making a getaway to parents' cars or sports practice have little time for a question they don't understand. But follow the echoes of water splashing and the clink of bats hitting balls, and you'll discover a tiny house that looks decidedly out of place between the campus pool and baseball diamond. Here lies the 164-year-old Michael White Adobe, currently on the market for $1. Unbeknownst to many of the 1,150 students enrolled at San Marino, a national blue ribbon school that has undergone $35 million of renovations in the last 10 years, the adobe is at the center of a debate over old and new. Local history buffs say the adobe, built a century before the high school was even founded, represents a valuable piece of the city's narrative and is in need of preservation.
BUSINESS
September 16, 2009 | Times Wire Reports
Adobe Systems Inc., the biggest maker of graphic design programs, agreed to buy online ad measurement company Omniture Inc. for $1.8 billion. San Jose-based Adobe offered $21.50 a share, a 24% premium over Omniture's closing price Tuesday. Adobe forecast earnings of 33 to 39 cents a share on revenue of $690 million to $740 million for the current period. Adobe shares advanced 43 cents to $35.62. They have gained 67% this year.
ENTERTAINMENT
August 19, 2009 | Mark Milian
When cryptic posters portraying President Obama as the Joker from "The Dark Knight" began popping up around Los Angeles and other cities, the question many asked was: Who is behind the image? Was it an ultra-conservative grass-roots group or a disgruntled street artist going against the grain? Nope, it turns out, just a 20-year-old college student from Chicago. Bored during his winter school break, Firas Alkhateeb, a senior history major at the University of Illinois, crafted the picture of Obama with the clown makeup using Adobe's Photoshop software.
CALIFORNIA | LOCAL
February 1, 2009 | Jean Merl
It has trembled through earthquakes, been caught in a land dispute between ranchers back in the days of Mexican rule and nearly fallen to a 1940s housing boom. Through a series of owners that included a Southern-born lawyer, a Scottish nobleman and the founder of Inglewood, the Centinela Adobe has endured to become an intriguing piece of California history tucked into a neighborhood of tidy tract homes.
BUSINESS
December 17, 2008 | from times wire services
Adobe Systems Inc., best known for its Photoshop and Acrobat software, said its fiscal fourth-quarter profit grew 11% to $245.9 million, or 46 cents a share. The San Jose firm said sales rose to $915.3 million from $911.2 million a year earlier.
BUSINESS
December 4, 2008 | from times wire reports
Adobe Systems Inc. released better-than-expected preliminary earnings for the fourth quarter, but said it would cut 600 jobs, or 8% of its workforce, because of slower revenue growth. The San Jose software company said it expected earnings of 45 to 46 cents a share, compared with 49 cents a year earlier. Excluding certain items, Adobe expects to earn 59 to 60 cents a share. Analysts projected 51 cents, according to Thomson Reuters. Adobe said revenue would be $912 million to $915 million, up from $911 million a year earlier but below the average analyst estimate of $930 million.
BUSINESS
June 17, 2008 | From Times Wire Services
Adobe Systems Inc. said second-quarter profit climbed 41% on sales of Creative Suite 3. Net income rose to $214.9 million, or 40 cents a share, from $152.5 million, or 25 cents, a year earlier, the San Jose company said. Sales advanced 19% to $886.9 million.
BUSINESS
March 19, 2008 | From Times Wire Services
Adobe Systems Inc. said profit climbed 53% as more customers bought the latest version of its Creative Suite design software. First-quarter net income rose to $219.4 million, or 38 cents a share, from $143.9 million, or 24 cents, a year earlier, San Jose-based Adobe said. Sales advanced 37% to $890.4 million.
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