796343--1/24/2008--ADOBE_SYSTEMS

related topics

{product, market, service}

{operation, international, foreign}

{customer, product, revenue}

{regulation, change, law}

{operation, natural, condition}

{property, intellectual, protect}

{stock, price, operating}

{acquisition, growth, future}

{personnel, key, retain}

{tax, income, asset}

{loan, real, estate}

Delays in development or shipment of new products or upgrades to existing products could cause a decline in our revenue. Introduction of new products and business models by existing and new competitors could harm our competitive position and results of operations. If we fail to successfully manage transitions to new business models and markets, our results of operations could be negatively impacted. Adverse changes in general economic or political conditions in any of the major countries in which we do business could adversely affect our operating results. Revenue from our new businesses may be difficult to predict. If we fail to anticipate and develop new products in response to changes in demand for application software, computers, printers, or other non PC-devices our business could be harmed. We may incur substantial costs enforcing or acquiring intellectual property rights and defending against third-party claims as a result of litigation or other proceedings. We may not be able to protect our intellectual property rights, including our source code, from third-party infringers, or unauthorized copying, use, disclosure or malicious attack. We may not realize the anticipated benefits of past or future acquisitions, and integration of these acquisitions may disrupt our business and management. We rely on distributors to sell our products and any adverse change in our relationship with our distributors could result in a loss of revenue and harm our business. Catastrophic events may disrupt our business. Our future operating results are difficult to predict and are likely to fluctuate substantially from quarter to quarter and as a result the market price of our common stock may be volatile and our stock price could decline. We are subject to risks associated with international operations which may harm our business. We may incur losses associated with currency fluctuations and may not be able to effectively hedge our exposure. Changes in, or interpretations of, accounting principles could result in unfavorable accounting charges. If our goodwill or amortizable intangible assets become impaired we may be required to record a significant charge to earnings. Changes in, or interpretations of, tax rules and regulations may adversely affect our effective tax rates. If we are unable to recruit and retain key personnel our business may be harmed. We may suffer losses from our equity investments which could harm our business. We rely on turnkey assemblers and any adverse change in our relationship with our turnkey assemblers could result in a loss of revenue and harm our business.

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796343--1/24/2008--ADOBE_SYSTEMS_INC