Adobe (ADBE) FY2010 results: revenue $3.8 billion, up 29.0% on the year
Adobe Inc. (ADBE) reported revenue of $3.8 billion for fiscal 2010, the year ended 3 December 2010, up 29.0% on the year before. Net income was $775 million, up 100.4%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2011.
Revenue
$3.8 billion
+29.0% on the year
FY2007FY2010
Operating margin
26.1%
23.4% a year earlier
FY2007FY2010
Net income
$775 million
+100.4% on the year
FY2007FY2010
Diluted EPS
$1.47
+101.4% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
3,800
2,946
3,580
+29.0%
Cost of revenue
404
297
363
+36.0%
Gross profit
3,396
2,649
3,217
+28.2%
Gross margin
89.4%
89.9%
89.9%
Operating income
993
691
1,028
+43.8%
Operating margin
26.1%
23.4%
28.7%
Interest expense
57.0
3.4
10.0
+1,571.6%
Pre-tax income
943
702
1,079
+34.4%
Income tax
168
315
207
-46.5%
Effective tax rate
17.9%
44.9%
19.2%
Net income
775
387
872
+100.4%
Net margin
20.4%
13.1%
24.4%
Diluted EPS
$1.47
$0.73
$1.59
+101.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
1,113
1,118
1,281
-0.4%
Capital expenditure
170
120
112
+41.9%
Free cash flow
943
998
1,169
-5.5%
Free cash flow margin
24.8%
33.9%
32.7%
Cash from investing
-1,159
-1,497
-305
Cash from financing
-215
478
-1,022
Depreciation and amortisation
293
282
270
+3.7%
Share-based compensation
231
168
172
+37.9%
Buybacks
850
350
1,723
+142.9%
Diluted shares, weighted
526m
531m
549m
-0.9%
Shares outstanding at period end
502m
523m
526m
-4.0%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
5,192
4,891
4,410
+6.2%
Debt
1,514
1,000
350
+51.4%
Other liabilities
1,435
1,392
1,061
+3.1%
Total liabilities and equity
8,141
7,282
5,822
+11.8%
Fixed assets
449
388
313
+15.7%
Goodwill
3,642
3,495
2,135
+4.2%
Intangible assets
529
527
215
+0.3%
Investments
1,718
905
1,133
+89.9%
Cash and equivalents
750
999
886
-25.0%
Receivables
554
411
467
+34.9%
Other assets
499
557
672
-10.3%
Total assets
8,141
7,282
5,822
+11.8%
10-K for the year ended 3 December 2010, filed 27 January 2011: the filing.