In the second quarter of fiscal 2001, Adobe achieved revenue of $344.1 million, compared to $300.1 million reported for the second quarter of fiscal 2000 and $329 million reported in the first quarter of fiscal 2001. This represents 15 percent year-over-year revenue growth, with application revenue growth of 19 percent.

Pro forma diluted earnings per share for the second quarter of fiscal 2001, excluding non-operating gains and losses, were $0.34.

Given the tough economic environment, I am extremely pleased with Adobe’s financial results in the quarter, said Bruce R. Chizen, president and chief executive officer of Adobe. Record revenue for Adobe® Acrobat® 5.0, resulting in 67 percent year-over-year growth in our ePaper® Solutions segment, combined with our continued focus on operational excellence, drove another quarter of solid performance.

Net income, which includes non-operating gains and losses, was $61.3 million for the second quarter of fiscal 2001, compared to $65.8 million reported in the second quarter of fiscal 2000, and $69.8 million in the first quarter of fiscal 2001.

Including non-operating gains and losses, diluted earnings per share for the second quarter of fiscal 2001 were $0.25 based on 250.1 million weighted average shares. This compares with diluted earnings per share of $0.26 reported in the second quarter of fiscal 2000, based on 255.3 million weighted average shares, and diluted earnings per share of $0.28 reported in the first quarter of fiscal 2001, based on 253.6 million weighted average shares.

Excluding the amortization of goodwill and restructuring and other charges, Adobe’s operating profit was $121.5 million in the second quarter of fiscal 2001, compared to $97 million in the second quarter of fiscal 2000 and $119 million in the first quarter of fiscal 2001. This represents 25 percent year-over-year operating profit growth. As a percent of revenue, operating profit for the second quarter was 35.3 percent, compared to 32.3 percent in the second quarter of fiscal 2000 and 36.2 percent in the first quarter of fiscal 2001.