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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
126
2009
(in thousands, except per share data)
Quarter Ended
February 27
May 29
August 28
November 27
Revenue ........................................................................
$
786,390
$
704,673
$
697,507
$
757,283
Gross profit ...................................................................
$
709,037
$
632,665
$
632,460
$
674,959
Income before income taxes .........................................
$
203,162
$
163,730
$
174,416
$
160,212
Net income (loss) .........................................................
$
156,435
$
126,071
$
136,045
$
(32,043
)
Basic net income (loss) per share ..................................
$
0.30
$
0.24
$
0.26
$
(0.06
)
Diluted net income (loss) per share ...............................
$
0.30
$
0.24
$
0.26
$
(0.06
)
Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Each of the fiscal quarters
presented were comprised of 13 weeks with exception of the first quarter of fiscal 2010 which was comprised of 14 weeks.
NOTE 21. SUBSEQUENT EVENTS
Subsequent to December 3, 2010, as part of our $1.6 billion stock repurchase program, we entered into a structured
stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $125.0
million. This amount will be classified as treasury stock on our Consolidated Balance Sheets. Upon completion of the $125.0
million stock repurchase agreement, $875.0 million remains under our time-constrained dollar-based authority. See Note 14
for further discussion of our stock repurchase programs.
Subsequent to December 3, 2010, we acquired privately held Demdex, a leading data management platform company.
This acquisition will not have a material impact to our consolidated balance sheets and results of operations.