Adobe 2004 Annual Report Download - page 36

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36
Revenue from our Intelligent Documents segment increased during fiscal 2003 as compared to fiscal 2002
primarily due to new releases of our Acrobat desktop products during the second quarter of fiscal 2003, as well as
increased sales and marketing focus, enhanced corporate and government licensing programs, and product price
increases. Overall we experienced a 37% increase in revenues from our Acrobat desktop products, which was driven
by continued adoption of Acrobat desktop products in government, financial services, manufacturing, and the
architecture, engineering and construction markets among others. Additionally, revenues from our Intelligent
Documents segment increased due to a 79% increase in revenues from licensing of our Intelligent Documents server
solution products and the professional services and support revenue associated with these products. The increase in
revenue generated from the licensing of our Intelligent Documents server solution products and associated
professional services and support was primarily attributable to the acquisition of Accelio during the second quarter
of fiscal 2002.
Revenue from our OEM PostScript and Other segment remained relatively stable during fiscal 2003 as
compared to fiscal 2002. This was due to an increase in royalty revenues from our larger OEM customers during the
first half of fiscal 2003. This increase was offset by a decline in revenues in the second half of the year due to
weakness in the print business and smaller OEM customers moving to clone PostScript technologies.
Geographic Information
Fiscal
2004
% Change
2004 to 2003
Fiscal
2003
% Change
2003 to 2002 Fiscal
2002
Americas ................................... $ 770.6 20% $ 640.2 10% $ 583.8
Percentage of total revenues.. 46% 49% 50%
EMEA ....................................... 541.5 46% 370.2 17% 317.6
Percentage of total revenues.. 33% 29% 27%
Asia ........................................... 354.5 25% 284.3 8% 263.4
Percentage of total revenues.. 21% 22% 23%
Total revenues ....................... $ 1,666.6 29% $ 1,294.7 11% $ 1,164.8
The increase in revenues, in fiscal 2004 as compared to fiscal 2003, in each of our geographic segments was
primarily due to the strength of our Creative Professional products. The increase in revenues, in fiscal 2003 as
compared to fiscal 2002, in each of our geographic segments was primarily due to the strength of our Intelligent
Documents desktop products.
Additionally, revenues in EMEA and Asia increased approximately $50.2 million and $18.0 million,
respectively, during fiscal 2004 over fiscal 2003 due to the strength of the euro and the yen. In fiscal 2003, as
compared to fiscal 2002, revenues in EMEA and Asia increased approximately $50.8 million and $7.6 million,
respectively, due to the strength of the euro and the yen.
Platform Information
Fiscal
2004
Fiscal
2003
Fiscal
2002
Windows.................................... 73% 74% 71%
Macintosh .................................. 27% 26% 29%
We expect a growth trend towards the Windows platform over the long term due to our targeting of business
users with our Intelligent Documents desktop products, where the majority of users run the Windows operating
system.
Inventory Information
At the end of fiscal 2004 our channel inventory position was within our global inventory policy which allows up
to an estimated 4.5 weeks of anticipated product supply at our distributors.