Adobe reports record financial results

Adobe (Nasdaq: ADBE) (San Jose, CA, http://www.adobe.com

) has announced Q3 '97 financial results. Record revenues of $230 million compare with $180.9 million in Q3 '96. Net income increased 79% from Q3 '96 to $53.4 million. Application products revenue of $184.9 million was evenly split between Windows- and Macintosh-based platforms. Adobe also announced a stock repurchase program of up to 15 million shares over the next two years. Adjustments to Q3 '97 figures may be necessary, depending on the outcome of a pending patent infringement suit brought against Adobe by UK-based Quantel.