Shareholders to vote Aug. 24 on proposed Adobe merger.

Source: MarketWatch
Written By Michael Paige

LOS ANGELES (MarketWatch) — Macromedia Inc., which is in a pending deal to be acquired by Adobe Systems Inc., said late Wednesday its quarterly profit jumped 17%, propelled by strong demand for its software used for Web site design.

Separately, Macromedia (MACR: news, chart, profile) and Adobe (ADBE: news, chart, profile) both said their shareholders will meet Aug. 24 to vote on whether to approve the proposed merger.

Macromedia , based in San Francisco, said its fiscal first-quarter profit rose to $15.2 million, or 19 cents a share, from $13 million, or 17 cents a share, in the comparable period a year earlier.

Revenue for the period increased 13% to $116.8 million from $103.6 million.

Excluding one-time items like charges related the planned merger, Macromedia would have earned $18.1 million, or 22 cents a share, compared to $13.7 million, or 18 cents a share.

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