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59
Revenue from our Enterprise segment increased $61.7 million during fiscal 2008 as compared to fiscal 2007 primarily
due to an increased adoption of our LiveCycle family of products and a larger number of enterprise solution transactions at a
higher average transaction size.
Revenue from our Platform segment increased by $98.2 million during fiscal 2008 as compared to fiscal 2007 due to
continued adoption of Flash Lite by mobile and non-PC device manufacturers, as well as increased revenue related to Flash
Player and the launch of Adobe AIR which resulted in increased revenue from our developer tools.
Revenue in our Print and Publishing business increased by $5.9 million during fiscal 2008 as compared to fiscal 2007,
driven by ongoing adoption of our eLearning solutions as well as some of our legacy print and publishing products.
Geographic Information (dollars in millions)
Fiscal
2009
% Change
2009 to 2008
Fiscal
2008
% Change
2008 to 2007
Fiscal
2007
Americas .........................
$
1,382.6
(15
)%
$
1,632.8
8
%
$
1,508.9
Percentage of total revenue .........
46
%
46
%
48
%
EMEA ...........................
928.9
(24
)%
1,229.2
20
%
1,026.4
Percentage of total revenue .........
32
%
34
%
32
%
Asia..............................
634.4
(12
)%
717.9
15
%
622.6
Percentage of total revenue .........
22
%
20
%
20
%
Total revenue ....................
$
2,945.9
(18
)%
$
3,579.9
13
%
$
3,157.9
Fiscal 2009 Revenue by Geography Compared to Fiscal 2008 Revenue by Geography
Overall revenue in each of the geographic segments for fiscal 2009 decreased compared to fiscal 2008 primarily due to
the global economic recession, which resulted in reduced adoption of many of our major products.
Included in the overall decrease in revenue were impacts associated with foreign currency. Revenue in EMEA
measured in U.S. dollars decreased approximately $47.1 million, due to the strength of the U.S. dollar against the Euro, as
compared to fiscal 2008. Our currency hedging program is used to mitigate a portion of the foreign currency impact to
revenue. During fiscal 2009, our currency hedging program related to the Euro resulted in hedging gains of $25.8 million.
Revenue in Asia measured in U.S. dollars was favorably impacted by approximately $32.8 million due to the strength of the
Yen against the U.S. dollar as compared to fiscal 2008. During fiscal 2009, our currency hedging program related to the Yen
resulted in hedging gains of $1.2 million.
Fiscal 2008 Revenue by Geography Compared to Fiscal 2007 Revenue by Geography
Overall revenue in each of the geographic segments for fiscal 2008 increased compared to fiscal 2007 primarily due to
the ongoing adoption of our CS3 family of products during the first half of the year, the launch of our CS4 family of products
in the fourth quarter of the year, the launch of our Acrobat 9 family of products in the third quarter of the year and strong
growth in our enterprise business.
Included in the overall increase in revenue were impacts associated with foreign currency. Revenue in EMEA measured
in U.S. dollars was favorably impacted by approximately $69.3 million during fiscal 2008 as compared to fiscal 2007
primarily due to the strength of the Euro against the U.S. dollar. Additionally, during fiscal 2008 we had a hedging gain of
$13.2 million. Revenue in Asia was favorably impacted by approximately $39.6 million during fiscal 2008 as compared to
fiscal 2007 primarily due to the strength of the Yen against the U.S. dollar.
See Item 7A, Quantitative and Qualitative Disclosures About Market Risk regarding foreign currency risks.
Product Backlog
With regard to our product backlog, the actual amount of backlog at any particular time may not be a meaningful
indicator of future business prospects. Backlog is comprised of unfulfilled orders, excluding those associated with new
product releases, those pending credit review and those not shipped due to the application of our global inventory policy. Our
backlog for the fourth quarter of fiscal 2009 was approximately 9% of fourth quarter fiscal 2009 revenue compared with
approximately 2% of third quarter fiscal 2009 revenue. We had minimal backlog at the end of the fourth quarter of fiscal
2008.