Adobe 2010 Annual Report Download - page 3

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Forward-Looking Statements
In addition to historical information, this Annual Report on Form 10-K contains forward-looking statements, including
statements regarding product plans, future growth and market opportunities which involve risks and uncertainties that could
cause actual results to differ materially from these forward-looking statements. Factors that might cause or contribute to
such differences include, but are not limited to, those discussed in the section entitled “Risk Factors” in Part I, Item 1A of
this report. You should carefully review the risks described herein and in other documents we file from time to time with the
Securities and Exchange Commission (“the SEC”), including our Quarterly Reports on Form 10-Q to be filed in 2011. When
used in this report, the words “expects,” “could,” “would,” “may,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“targets,” “estimates,” “looks for,” “looks to” and similar expressions, as well as statements regarding our focus for the
future, are generally intended to identify forward-looking statements. You should not place undue reliance on these forward-
looking statements which speak only as of the date of this Annual Report on Form 10-K. We undertake no obligation to
publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this
document.
PART I
ITEM 1. BUSINESS
Founded in 1982, Adobe Systems Incorporated is one of the largest and most diversified software companies in the
world. We offer a line of creative, business, Web and mobile software and services used by creative professionals, knowledge
workers, developers, marketers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with
compelling content and experiences across multiple operating systems, devices and media. We distribute our products
through a network of distributors, value-added resellers (“VARs”), systems integrators, independent software vendors
(“ISVs”) and original equipment manufacturers (“OEMs”). We also market and license our software directly to enterprise
customers through our sales force and to end users through our own Website at www.adobe.com. In addition, we license our
technology to hardware manufacturers, software developers and service providers, and provide some of our solutions via
Software as a Service (“SaaS”), also known as hosted or “cloud-based” offerings. Our software runs on personal computers
(“PC”) and server-based computers, as well as various non-PC and mobile devices, depending on the product. We have
operations in the Americas, Europe, Middle East and Africa (“EMEA”) and Asia.
Adobe was originally incorporated in California in October 1983 and was reincorporated in Delaware in May 1997. We
maintain executive offices and principal facilities at 345 Park Avenue, San Jose, California 95110-2704. Our telephone
number is 408-536-6000. We maintain a Website at www.adobe.com. Investors can obtain copies of our SEC filings from
this site free of charge, as well as from the SEC Website at www.sec.gov.
BUSINESS OVERVIEW
For more than 28 years, innovation in Adobe software and technologies has transformed how individuals, businesses
and governments communicate and interact with their constituents. Across the markets and customers we serve, Adobe helps
create and deliver the most compelling content and applications in a streamlined workflow, and optimize those experiences
for greater return on investment. Our solutions turn ordinary interactions into compelling and valuable digital experiences,
across media and devices, anywhere, anytime.
While continuing to sell a broad portfolio of services and solutions, we are focusing our greatest business investment in
three strategic growth areas:
Content authoring—enabling how digital experiences are created, managed, distributed, and increasingly monetized in a
multiscreen world. Our customers include traditional creators, developers and digital media professionals, as well as their
management in marketing departments and agencies, companies and publishers. This is the core of what we have delivered
for over 20 years, but we are evolving rapidly to ensure these customers have an integrated workflow to handle the plethora
of new devices and formats that are emerging.
Customer experience management—transforming how enterprises engage with their customers through powerful digital
experiences. Our customers include line of business owners as well as their IT partners. Our solutions are designed to help
companies be effective in signing up and servicing their customers to produce a positive business impact.
Online marketing—providing solutions and services for how digital advertising and marketing is measured, executed,
and optimized. Our customers include advertisers, publishers, chief marketing officers and chief revenue officers. We process
over a trillion transactions a quarter in helping our customers with site analytics, visitor acquisition and conversion. This
complements our content authoring franchise, bringing together the art of creating content with the science of optimizing it.