20 December 2000

Fiscally fit Adobe bullish on 2001 growth prospects
'Acrobat will be our fastest growing business next year.'

While many software and high-tech companies face the coming of the true new millennium (2001) with at best guarded optimism over earnings potential, Adobe Systems, Inc. is poised to surge further ahead into the company's Internet-oriented future.

Adobe CEO Bruce ChizenThere's no lack of optimism in the San Jose, CA-based software company's forecast of 25 percent growth in the first quarter and the 2001 fiscal year. Somewhat ironically, the bold economic predictions follow the year when both of the original partners and co-founders of Adobe -- John Warnock and Charles Geschke -- relinquished their top executive roles. Bruce Chizen (photo), formerly the company's president, was named CEO last week.

According to analyst reports, Adobe is expected to ship "in the coming months" a new version of Acrobat, which according to the same analysts has "become the de facto standard for transferring documents over the Internet."

According to Chizen, the Acrobat products contributed $207 million of Adobe's fiscal 2000 revenues of $1.3 billion.

"We've only penetrated about 5 percent of the entire network market" of 100 million computers that are connected to the Web, he says.

Another Chizen prediction: "Acrobat will be our fastest growing business next year."


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