What are the main financial results announced in this filing?

The primary financial information is from a press release attached to the 8-K, which announced Adobe's record quarterly and annual revenue for the periods ending December 2, 2011. Specific revenue and profit figures would be detailed within that press release, which is incorporated by reference.

Why does Adobe use non-GAAP financial measures, and what are the key adjustments?

Adobe uses non-GAAP measures to provide supplemental information about its operational performance, believing these measures offer a better understanding for investment in R&D and go-to-market strategies. Key adjustments include excluding stock-based compensation, restructuring and other charges, and amortization of purchased intangibles, as these are considered non-cash expenses or not reflective of ongoing core operations.

What is the significance of the new 'Change of Control' plans?

Adobe adopted new Executive Severance Plans in the Event of a Change of Control. These plans replace older versions and were effective starting December 13, 2011. They are designed to provide severance benefits to certain executives in the event of a company acquisition or other change of control, indicating a focus on executive retention and transition preparedness.

Are the non-GAAP figures presented in this filing considered to be in accordance with GAAP?

No, the filing explicitly states that the non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles (GAAP). They may differ from those used by other companies and should only be used in conjunction with the corresponding GAAP measures for a complete understanding of Adobe's financial results.

ADBE 8-K: Earnings & Results & Leadership Changes

Summary

This 8-K filing from Adobe Systems Incorporated (ADBE), filed on December 15, 2011, primarily serves to furnish a press release announcing the company's financial results for its fourth fiscal quarter and full year ended December 2, 2011. The press release indicates record quarterly and annual revenue, signaling positive top-line performance for the company. A significant portion of the filing is dedicated to explaining Adobe's use of non-GAAP financial measures, detailing various exclusions such as stock-based compensation, restructuring charges, and amortization of purchased intangibles. These adjustments are made to provide supplemental insights into operational performance and facilitate comparisons, though investors are cautioned to consider these alongside GAAP results.

Key Highlights

1Adobe reported record quarterly and annual revenue for the periods ending December 2, 2011.
2The company provided detailed explanations and justifications for its use of non-GAAP financial measures.
3Key exclusions from non-GAAP measures include stock-based compensation, restructuring charges, and amortization of purchased intangibles.
4Adobe believes non-GAAP measures offer meaningful supplemental information for assessing operational performance and investment decisions.
5The filing announced the adoption of new "Change of Control" executive severance plans, replacing prior versions.
6These new plans became effective on December 13, 2011, and were approved by the Executive Compensation Committee on December 12, 2011.

ADOBE INC. 8-K Report, Financial Results (Dec 15, 2011)

Summary

Key Highlights

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