The Information Technology 100
46
Adobe Systems
Adobe has been an important niche player in the PC biz for 23 years, so how do you explain its torrid 29% growth in 2004? The best metaphor is "clicking on all cylinders." CEO Bruce Chizen’s 2003 decision to package Adobe’s popular, but expensive, desktop-publishing programs into the affordable Adobe Creative Suite is paying off with market share gains against rival Quark. Its strategy to make Adobe Acrobat, PDF files, and its document management programs de facto standards in corporations is working. And now the company is broadening out with its $3.4 billion acquisition of Macromedia -- a leader in Web-site publishing. No wonder Adobe's stock is up by one-third in the past year.
Company Info
| STOCK INFO | ADBE |
| Revenues* | $1.7 BILLION
|
| Revenue Growth | 20.8%
|
| Return on Equity | 29.5%
|
| Total Return | 48.6%
|
| Profits* | $479.3 MILLION
|
| Industry | SOFTWARE
|
| CORPORATE WEB SITE
|
All figures are for the most recent available 12 months.
* Latest available data for the 12-month period ended Dec. 31, Jan. 31, Feb. 29, Mar. 31, or Apr. 30. For companies that do not report quarterly, the most recent annual data were used.
Data provided by Standard & Poor's Compustat, BusinessWeek
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Company Snapshot
Adobe Systems Incorporated offers a line of software and services for public and private sectors in the United States. The company operates through four segments: Creative Professional, Digital Imaging and Video, Intelligent Documents, and OEM PostScript and Other. Creative Professional segment provides software tools for professional publishing, Web design, business document publishing, and printing information. Its tools are also used to create printed and online information, including newspapers, magazines, Web sites, catalogs, advertisements, brochures, product documentation, technical manuals, books, memos, reports, and banners. Digital Imaging and Video segment offers solutions to create and enhance digital images and photographs, digital video, audio, and animations. Intelligent Documents segment provides both desktop and server-based software, which creates documents that can be viewed, interacted with, and integrated into existing business processes. OEM PostScript and Other segment offers production printing technology for graphics professionals and professional publishers; and also licenses its technology to original equipment manufacturers (OEMs) that manufacture printers and other output devices. The company also provides professional services, technical support, and customer services. In addition, it owns limited partnership interests in three venture capital limited partnerships that invest in early stage companies; and also makes direct investments in privately held companies. Adobe Systems’ customers include creative professionals, such as graphic designers, Web designers, videographers, photographers, and professional publishers; enterprise users, such as knowledge workers, information technology managers, line of business managers, and executives; and consumers, including digital imaging and digital video hobbyists. The company distributes its products through a network of distributors and dealers, value-added resellers, systems integrators, independent software vendors, and OEMs; direct to end users; and through its own Web site. Adobe Systems has international offices in Australia, Belgium, Brazil, Canada, China, Denmark, England, Finland, France, Germany, India, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, Norway, Portugal, Scotland, Singapore, Spain, Sweden, Switzerland, and Taiwan. The company was founded in 1982 and is headquartered in San Jose, California.
No. of Employees
3,848
Data provided by 
Bruce R. Chizen
Bio
Bruce R. Chizen has been the Chief Executive Officer of Adobe Systems Inc. (a provider of graphic design, publishing, and imaging software for Web and print production) since December 2000. Mr. Chizen served as President of Adobe Systems Inc. from April 2000 to January 2005. Mr. Chizen joined Adobe upon the closing of the acquisition of Aldus in August 1994 as Vice President and General Manager, Consumer Products Division. From December 1997 to August 1998, Mr. Chizen served as Senior Vice President and General Manager, Graphic Products Division, and from August 1998 to April 2000, he served as Executive Vice President, Products and Marketing at Adobe Systems. Prior to joining Adobe Systems Inc., Mr. Chizen was Vice President and General Manager, Consumer Division of Aldus from February 1994 to August 1994. In 1987, he joined Claris Corporation as a founding senior manager and later from November 1992 to February 1994, held positions as vice president of sales and of worldwide marketing before becoming vice president and general manager of Claris Clear Choice, a wholly owned subsidiary of Apple Computer, Inc. In 1983, Mr. Chizen joined Microsoft Corporation as the company's eastern region sales director. From 1980 to 1983, he worked in Mattel Electronics' merchandising group, helping grow it to a $500 million business. He has been a Director of Synopsys Inc. (an electronic design and automation company) since April 2001 and serves as the Chairman of the Compensation Committee and Member of Corporate Governance and Nominating Committees. He has been a Director of Adobe Systems Inc. since December 2000. He also serves as a Member of Advisory Board of Voxa Inc. He holds BS from Brooklyn College, City University of New York.
AGE: 49
Titles
Chief Executive Officer and Director
Total Compensation*
$2.2 MILLION
Total Value of Options**
$64.5 MILLION
Degrees Held
Brooklyn College, NY (BS)
* Latest available fiscal year
** The sum of the net value of options exercised and held in the latest available fiscal year
Key Executives
Bruce R. Chizen, Shantanu Narayen, John D. Brennan, Karen O. Cottle, Murray J. Demo, Melissa Dyrdahl, James Heeger, Ivan Koon, Bryan Lamkin, Jim Stephens, Theresa Townsley
Board Members
Bruce R. Chizen, Colleen M. Pouliot, John Warnock, Charles M. Geschke, Carol Mills Baldwin, Robert Sedgewick, Delbert W. Yocam, James E. Daley, Michael R. Cannon
