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March 25, 1996

ADOBE SHARE PRICES FALL BY 10% AFTER DUMPING POSTSCRIPT

By CBR Staff Writer

Adobe Systems Inc shares fell by over 10 % last Friday, after the company disclosed last Thursday that Hewlett-Packard Co will cease to incorporate its PostScript print control language in low-end LaserJet printers from the second half of next year (CI 2878). Share price closed at $31.38 last Friday afternoon for the publishing software company, down by $2.88 since the markets opened that morning. Also last week, Adobe reported lower fiscal first-quarter earnings-net income fell 6.6 percent to $33.7 million, or 44 cents a share, from $36.1 million, or 50 cents, a year ago. Revenue rose 2.5 percent for the three months ended March 1 to $193.6 million from $188.8 million.

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