Macromedia Files Form 10-Q
San Francisco, CA—February 10, 2003—Macromedia, Inc. (Nasdaq: MACR) today filed its Form 10-Q with the Securities and Exchange Commission for the third quarter of fiscal year 2003. The Form 10-Q for the period ended December 31, 2002 reflects an adjustment to the company's financial results announced on January 22, 2003 resulting from a subsequent settlement of litigation with RLI Corporation pending since March, 2002. Consistent with Macromedia's policy of accounting for subsequent events, unaudited results of operations for the three-and-nine months ended December 31, 2002 reported on the company's Form 10-Q includes a litigation charge for this settlement of $2.5 million.
After reflecting this charge, net income reported on Form 10-Q for the three months ended December 31, 2002 was $8.3 million, or $0.14 per diluted share. For the nine months ended December 31, 2002, the company reported a net loss of $5.4 million, or $0.09 per share. Pro forma net income for the three- and nine-month periods ended December 31, 2003, previously announced by Macromedia on January 22, 2003, was unchanged as the settlement is classified as a one-time litigation charge.