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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except share and per share data)
(Continued)
NOTE 16. FOREIGN OPERATIONS
Geographic information for each of the years in the three-year period ended November 27, 1998, is
presented below:
Years Ended
November 27 November 28 November 29
1998 1997 1996
Revenue:
North America ..................... $667,566 $ 606,633 $ 526,251
Europe ........................... 249,407 226,557 134,879
Japan and Asia Pacific and Latin America . 192,145 222,911 176,490
Eliminations ....................... (214,327) (144,207) (51,057)
$ 894,791 $ 911,894 $ 786,563
Operating income:
North America ..................... $ 21,928 $ 87,035 $ 31,186
Europe ........................... 5,189 69,371 16,408
Japan and Asia Pacific and Latin America . 119,208 135,657 103,002
Eliminations ....................... (20,978) (61,307) (3,810)
$ 125,347 $ 230,756 $ 146,786
Identifiable assets:
North America ..................... $758,440 $ 923,704 $1,015,065
Europe ........................... 105,172 79,291 67,506
Japan and Asia Pacific and Latin America . 28,968 32,161 22,102
Eliminations ....................... (125,249) (95,085) (103,280)
$ 767,331 $ 940,071 $1,001,393
NOTE 17. SUBSEQUENT EVENTS
On January 4, 1999, the Company announced the acquisition of substantially all of the assets,
including primarily intellectual property, of both GoLive Systems, Inc., a Delaware corporation, and
GoLive Systems GmbH and Co. KG, a German limited partnership, for approximately $31.0 million, plus
additional contingency payments based on achieving certain technical and employment milestones totaling
$8.0 million. The acquisition will be accounted for under the purchase method of accounting in accordance
with Accounting Principles Board Opinions No. 16.
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