Adobe 2012 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 2013. When used in this report, the words
“will,” “expects,” “could,” “would,” “may,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “targets,” “estimates,”
“looks for,” “looks to,” “continues” 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 software and services used by creative professionals, marketers, knowledge workers, application developers,
enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and
experiences across multiple operating systems, devices and media. We market and license our software directly to enterprise
customers through our sales force and to end users through app stores and our own website at www.adobe.com. We also distribute
our products through a network of distributors, value-added resellers (“VARs”), systems integrators, independent software vendors
(“ISVs”), retailers and original equipment manufacturers (“OEMs”). In addition, we license our technology to hardware
manufacturers, software developers and service providers for use in their products and solutions. We offer some of our products
via a Software-as-a-Service (“SaaS”) model (also known as a hosted or “cloud-based” model) as well as through term subscription
and pay-per-use models. Our software runs on personal computers (“PCs”) and server-based computers, as well as on smartphones,
tablets and other devices, depending on the product. We have operations in the Americas, Europe, Middle East and Africa (“EMEA”)
and Asia-Pacific (“APAC”). See Note 18 of our Notes to Consolidated Financial Statements for further geographical information.
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. The information posted to our website is not incorporated into this Annual
Report on Form 10-K.
BUSINESS OVERVIEW
For 30 years, innovation in Adobe software and technologies has transformed how individuals, businesses and governments
communicate and interact with their constituents. Across the markets we serve, Adobe helps its customers create and deliver the
most compelling content and interactive experiences in a streamlined workflow, and optimize those experiences and marketing
activities for greater return on investment. Our solutions turn ordinary interactions into compelling and valuable digital experiences,
across media and devices, anywhere, anytime.
While we continue to market and license a broad portfolio of products and solutions, we focus our greatest business
investment in two strategic growth areas:
Digital Media—providing tools, services and solutions that enable individuals, small businesses and enterprises to create,
publish, promote and monetize their content anywhere. Our customers include traditional content creators, web designers, app
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 provide these customers
with a more complete and integrated workflow across the variety of new devices, formats and business models that continue to
emerge.
Digital Marketing—providing solutions and services for how digital advertising and marketing campaigns are created,
managed, executed, measured and optimized. Our customers include digital marketers, advertisers, publishers, merchandisers,
web analysts, chief marketing officers and chief revenue officers. We process over a trillion web transactions a quarter via SaaS,
providing our customers with analytics, social, targeting, media optimization and experience management solutions This
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