In its regular intra-quarter business update this week for its Q3 of fiscal 2004 — which ends September 3 — Adobe Systems said it expects to exceed the financial targets it had previously provided. The company indicated that ‘the increase in targets was due to the greater than expected revenue thus far in the quarter for its Adobe Photoshop and Creative Suite products, and for its Acrobat product family.’
Accordingly, an industry analyst with Piper Jaffray raised his estimates for the company based on expectations that Adobe will ‘benefit in the near term from continued positive trends in its Creative Suite (CS) and Intelligent Documents product segments.’
He added that the company is ‘likely to begin the shipment for the new version of its Acrobat product, Acrobat 7, in 1Q FY05.’ Adobe has made no public mention to date of a forthcoming major release, but the projected date tracks with the two-year interval for the last several major upgrades to a product that has in recent generations become one of the company’s top revenue producers and core technologies. Acrobat 6.0 began shipping in 1Q FY03.