Adobe 2000 Annual Report Download - page 76

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49
48
Our common stock is traded on The Nasdaq National Market under the symbol “ADBE.”
On January 26, 2001, there were 1,672 holders of record of our common stock. Because
many of such shares are held by brokers and other institutions on behalf of stock-
holders, we are unable to estimate the total number of stockholders represented by these
record holders.
The following tables (presented in thousands, except per share amounts) set forth quarterly
supplementary data, the high and low sales price per share of our common stock, and the
cash dividends paid per share for each of the years in the two-year period ended December
1, 2000. All share and per share amounts referred to in the table below have been adjusted to
reflect the two-for-one stock split in the form of a stock dividend of our common stock
effected October 24, 2000.
QUARTER ENDED YEAR ENDED
2000 MAR. 3 JUNE 2 SEP. 1 DEC. 1 DEC. 1
Revenue $ 282,232 $ 300,085 $ 328,867 $ 355,194 $ 1,266,378
Gross profi t 261,510 279,481 305,199 332,933 1,179,123
Income before income taxes 99,331 101,195 120,429 122,785 443,739
Net income 64,565 65,777 78,270 79,196 287,808
Basic net income per share 0.27 0.28 0.33 0.33 1.21
Shares used in computing
basic net income per share 237,256 237,516 238,464 239,640 238,292
Diluted net income per share 0.26 0.26 0.31 0.31 1.13
Shares used in computing
diluted net income per share 252,978 255,348 255,828 257,294 255,774
Common stock price per share
High 53.31 65.50 71.66 87.31 87.31
Low 26.72 38.50 51.50 60.75 26.72
Cash dividend per share 0.0125 0.0125 0.0125 0.0125 0.05
QUARTER ENDED YEAR ENDED
1999 MAR. 5 JUNE 4 SEP. 3 DEC. 3 DEC. 3
Revenue $ 226,902 $ 245,886 $ 260,876 $ 281,770 $ 1,015,434
Gross profi t 204,403 222,182 236,609 257,700 920,894
Income before income taxes 60,319 70,788 90,028 153,292 374,427
Net income 38,276 44,961 57,155 97,359 237,751
Basic net income per share 0.16 0.19 0.23 0.41 0.98
Shares used in computing
basic net income per share 243,892 242,288 243,792 238,340 241,572
Diluted net income per share 0.15 0.18 0.22 0.38 0.92
Shares used in computing
diluted net income per share 253,536 256,200 259,316 254,812 258,410
Common stock price per share
High 12.75 20.27 26.32 39.50 39.50
Low 9.19 11.36 16.75 23.77 9.19
Cash dividend per share 0.0125 0.0125 0.0125 0.0125 0.05
We have paid cash dividends on our common stock each quarter since the second quarter
of 1988. In March 1997, we established the venture stock dividend program under which
we may, from time to time, distribute as a dividend-in-kind shares of our equity holdings
in investee companies to our stockholders.
Under the terms of our line of credit agreement and corporate headquarters lease agree-
ment, we may pay cash dividends unless an event of default has occurred or we do not
meet certain fi nancial ratios. The declaration of future dividends, whether in cash or in-
kind, is within the discretion of Adobe’s Board of Directors and will depend upon
business conditions, our results of operations, our fi nancial condition, and other factors.
Quarterly Results of Operations (In thousands, except per share data)