What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report Adobe's financial results for its third fiscal quarter ended August 28, 2009, and to provide detailed explanations of the non-GAAP financial measures the company uses.

Why does Adobe report non-GAAP financial results?

Adobe reports non-GAAP financial results to provide a more meaningful view of its operational performance and liquidity. They believe these measures help investors understand core profitability by excluding expenses like stock-based compensation, restructuring charges, and amortization of intangibles, which are either non-cash or not indicative of ongoing operational trends.

What specific items are excluded from Adobe's non-GAAP calculations?

Adobe excludes several items from its non-GAAP calculations, including stock-based and deferred compensation expenses, restructuring charges, amortization of purchased intangibles and technology license arrangements, investment gains and losses, the income tax effect of resolving an income tax audit, and the income tax effect of other non-GAAP adjustments.

Are the non-GAAP measures presented in this report in accordance with GAAP?

No, the non-GAAP measures presented are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (GAAP). Adobe states that these measures may differ from those used by other companies and should be used in conjunction with the corresponding GAAP measures to evaluate the company's financial results.

ADBE 8-K: Earnings & Results

Summary

Adobe Systems Incorporated (ADBE) filed an 8-K on September 15, 2009, to report its financial results for the third fiscal quarter ended August 28, 2009. The report primarily references a press release detailing these results and provides a thorough explanation of the non-GAAP financial measures the company utilizes. These non-GAAP measures exclude items such as stock-based compensation, restructuring charges, amortization of purchased intangibles, investment gains/losses, and the impact of a prior tax audit resolution. Adobe's rationale for using these non-GAAP figures is to offer a clearer view of operational performance and facilitate comparisons with historical results and competitors, particularly for budgeting and resource allocation decisions.

Key Highlights

1Adobe Systems Incorporated filed an 8-K on September 15, 2009, announcing third-quarter fiscal year 2009 financial results.
2The filing includes a press release (Exhibit 99.1) with detailed financial results for the quarter ended August 28, 2009.
3The company provides an extensive explanation of its use of non-GAAP financial measures.
4Key exclusions from GAAP for non-GAAP reporting include stock-based compensation, restructuring charges, and amortization of purchased intangibles.
5Adobe uses non-GAAP measures to assess operational performance, guide internal budgeting, and compare against competitors.
6The report emphasizes that non-GAAP measures are supplemental and should be considered alongside GAAP figures.

ADOBE INC. 8-K Report, Financial Results (Sep 15, 2009)

Summary

Key Highlights

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