Adobe 2011 Annual Report Download - page 120

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120
NOTE 20. SELECTED QUARTERLY FINANCIAL DATA (unaudited)
(in thousands, except per share data)
Revenue
Gross profit
Income before income taxes
Net income
Basic net income per share
Diluted net income per share
2011
Quarter Ended
March 4
$ 1,027,706
$ 920,067
$ 286,087
$ 234,591
$ 0.47
$ 0.46
June 3
$ 1,023,179
$ 913,978
$ 259,244
$ 229,436
$ 0.46
$ 0.45
September 2
$ 1,013,212
$ 908,558
$ 256,719
$ 195,101
$ 0.39
$ 0.39
December 2
$ 1,152,161
$ 1,035,782
$ 233,180
$ 173,719
$ 0.35
$ 0.35
(in thousands, except per share data)
Revenue
Gross profit
Income before income taxes
Net income
Basic net income per share
Diluted net income per share
2010
Quarter Ended
March 5
$ 858,700
$ 769,332
$ 166,215
$ 127,154
$ 0.24
$ 0.24
June 4
$ 943,035
$ 835,202
$ 194,173
$ 148,611
$ 0.28
$ 0.28
September 3
$ 990,319
$ 891,235
$ 296,752
$ 230,065
$ 0.44
$ 0.44
December 3
$ 1,007,946
$ 900,729
$ 286,011
$ 268,850
$ 0.53
$ 0.53
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 2, 2011, 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 $80.0 million. This
amount will be classified as treasury stock on our Consolidated Balance Sheets. Upon completion of the $80.0 million stock
repurchase agreement, $225.0 million remains under our time-constrained dollar-based authority. See Note 14 for further discussion
of our stock repurchase program.
On January 13, 2012, we acquired privately held Efficient Frontier, a multi-channel ad buying and optimization company,
for approximately $346 million in cash and the assumption of certain employee equity awards. The initial purchase accounting
for this transaction has not yet been completed given the short period of time between the acquisition date and the issuance of
these financial statements.
Efficient Frontier will be integrated into our Digital Marketing reportable segment for financial reporting purposes beginning
in the first quarter of fiscal 2012.The acquisition of Efficient Frontier adds cross-channel ad campaign forecasting, execution and
optimization capabilities to our Digital Marketing Suite, along with a social marketing engagement platform and social ad buying
capabilities.
Table of Contents
ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)