Adobe 2013 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 U.S. Securities and Exchange
Commission (“the SEC”), including our Quarterly Reports on Form 10-Q to be filed in 2014. 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, except as required by law.
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 products 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 products and services 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 and services 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 or a managed services model (both of which are referred to as
a hosted or cloud-based model) as well as through term subscription and pay-per-use models. Our products run on personal 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 over 30 years, Adobe’s innovations have transformed how individuals, businesses and governments communicate and
interact. Across the markets Adobe serves, we help our 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 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 investments in two
strategic growth areas:
Digital Media—providing tools, services and solutions that enable individuals, small businesses and enterprises to create,
publish and promote their content anywhere. Our customers include content creators, web designers, app developers and digital
media professionals, as well as management in marketing departments and agencies, companies and publishers. This is the core
of what we have delivered for over 20 years, and 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 creating, managing, executing, measuring and optimizing digital
advertising and marketing campaigns across multiple channels. Our customers include marketers, advertisers, agencies, publishers,
merchandisers, web analysts, marketing executives, information management executives, and revenue and sales executives. We
process over ten trillion web transactions a year via our SaaS products, providing our customers with analytics, social, targeting,
media optimization, web experience management and cross-channel campaign management solutions. This complements our
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