PhotoshopNews.com
Apr 5, 2005

Adobe details Creative Suite update

Source: MarketWatch
By Michael Paige
Last Update: 4:11 PM ET April 4, 2005

The San Jose, Calif., company will begin shipping Creative Suite 2 to U.S. and Canadian customers next month, with international versions expected in late May and early June.

The software is expected to retail for $1,199 for Creative Suite 2 Premium Edition and $899 for a standard edition. Analysts said the slightly cheaper pricing of the latest overhaul, compared to the first release of the software bundle, would likely be offset by increased volume.

Piper Jaffray analyst Gene Munster predicted that “the slight decline in pricing will be a net positive, as we expect volumes will increase to more than offset the pricing change.”

The analyst, who rates the company’s shares “outperform,” said it’s “hard to bet against Adobe” in the near term, with upgrades of its biggest products and continued strong industry fundamentals likely to be positives for the year.

To be sure, the company last month said its fiscal first-quarter net income climbed 23.5% and revenue rose 12% on strong demand for its digital-document products, prompting the company to lift its financial targets. See full story.

Adobe’s stock has also benefited from the warm reception given to its latest version of Acrobat and high expectations for the updated Creative Suite program. The shares have gained more than 17% over the past 60 days and are up more than 6% for the year so far.

The stock slipped 18 cents, or 0.3%, to close Monday’s session at $66.58.

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