Adobe sees profits climb 38 percent, CFO resigns
(MacMinute) December 15, 2005 – 19:30 EST Adobe Systems today announced that its profit for the fiscal fourth quarter ended December 2 jumped over 38%, beyond expectations, reports Reuters. In addition, the company’s CFO Murray Demo has resigned to spend more time with his family. Adobe said net income for the quarter rose to US$156.3 million, or 31 cents per share. Revenue, which grew to $510.4 million from $429.5 million, was helped by the growing use of digital devices and rising broadband use, according to the company. Also announced today were plans to cut 10% of its workforce (650-700 jobs) as a result of the company’s recent acquisition of Macromedia.