Adobe Systems Inc. (ADBE: chart) said Thursday that its profit more than doubled in the fiscal 2003 fourth quarter, boosted by strong demand fro its Acrobat product. The San Jose, California-based software company posted net earnings of $83.3 million, or 34 cents per diluted share, for its fourth quarter ended November 28, compared with $40.1 million, or 17 cents per diluted share, generated a year ago. On average, analysts were looking for a profit of 32 cents a share. Adobe said fourth-quarter revenue increased almost 22% to $358.6 million from $294.7 million, in the corresponding period last year. For the fiscal 2003 full year, Adobe reported a net profit of $266.3 million, or $1.10 a share, in contrast to $191.4 million, or 79 cents a share, in 2002. Revenue jumped to $1.29 billion, up 11% from $1.16 billion last year.

For the first quarter, the company said it expects earnings in the range of 33 cents to 36 cents a share and revenue between $360 million and $380 million.

Adobe shares rose 4.46% on Thursday to $39.78. The stock soared 5.73% to $42.06 in after-market trade.

Bolstered by strong sales, CIENA Corporation (CIEN: chart) of Linthicum, Maryland, reported before Thursday’s opening bell a smaller net loss of $115 million, or 24 cents a share, in its fiscal fourth quarter, compared with a loss of $754.8 million, or $1.75 a share, in the year-ago period. The telecommunications equipment maker said sales jumped 14%, in the quarter ended October 31, to $70.6 million from $61.9 million, a year earlier.

CIENA shares slid 2.68% to close Thursday at $6.18. The stock inched up 4 cents to $6.22 in after-hours trading.

IDT Corporation (IDT: chart) said before market open Thursday that its quarterly loss widened, due to weak results at its Net2Phone Internet telephone company. The Newark, New Jersey-based telecommunications company posted a first-quarter loss of $14 million, or 17 cents a share, compared with a year-ago loss of $4.1 million, or 5 cents a share. First-quarter revenue was up 15.8% to $513.1 million.

The stock closed Thursday up 86 cents, or 4.45%, at $20.18.

Verity, Inc. (VRTY: chart) of Sunnyvale, California, announced after the bell Thursday second-quarter income of $3.6 million, or 9 cents a share, up from $2.4 million, or 7 cents a share, a year earlier. Revenue jumped 26% to $28.9 million from $22.9 million last year. Pro forma earnings were 12 cents a share, in the second quarter, up from 8 cents a share, a year ago, and ahead of the average analysts’ estimate of 9 cents a share. The software maker attributed the results to the introduction of new products and cost controls.

Company shares gained 43 cents on Thursday to $14.29. The stock surged 8.68% to $15.53 in after-market trade.

Alexion Pharmaceuticals, Inc. (ALXN: chart) said Thursday it narrowed its first-quarter loss to $20.2 million, or $1.01 a share, from a loss of $21.6 million, or $1.19 a share, in the same period a year ago, helped by the shift of some of its costs for the development of pexelizumab to partner Proctor & Gamble Co. Analysts had expected the Cheshire, Connecticut-based drug company to report a loss of $1.00 a share. Quarterly revenue dipped $147,000 from $323,000.

The stock rose 3.03% to $18.05 at market close Thursday. Company shares shed 7 cents to $17.98 in after-hours trading.

Advanced Digital Information Corp. (ADIC: chart) of Redmond, Washington, reported Thursday a fourth-quarter profit of $5.8 million, or 9 cents a share, on sales of $118 million, rebounding from a year-earlier loss of $1.2 million, or 2 cents a share, on sales of $84.2 million. The data storage systems company topped analysts’ projections for profit of 7 cents a share. The company said results were due to continued demand for its products.

Company shares jumped 7.17% on Thursday to $13.16. The stock dropped 31 cents to $12.85 in after-hours trading.

Hi-Tech Pharmacal Co., Inc. (HITK: chart) said Thursday its second-quarter net income was $2.4 million, or 27 cents per share, a 50% increase from $1.6 million, or 21 cents per share, in the 2003 equivalent. The Amityville, New York-based pharmaceutical company credited the results to the launch of a new product. Second-quarter net sales rose to $15.6 million, up 33% from $11.7 million, in the year-earlier period.

The stock closed Thursday at $23.57, down 33 cents, or 1.38%. Company shares slipped 0.19% to $23.52 in after-market trade.

United Technologies Corp. (UTX: chart) of Hartford, Connecticut, said Thursday it expects 2004 earnings to grow to between $5.00 and $5.30 a share, on revenue of about $33 billion. The maker of building systems and aerospace products said robust elevator sales in Asia and strong results at its Carrier air conditioner business boosted its forecast.

Company shares added $1.00 to close Thursday at $89.27.

Sears Canada Inc. ((SCC.TO)) lowered Thursday its 2003 earnings outlook on weak fourth-quarter sales. The department store retailer, which is based in Toronto, Canada, said it now sees full-year operating earnings of C$1.10 to C$1.20 per share, compared with operating earnings of C$1.30 per share in 2002.

Sears shares rose 4.50% on Thursday to C$18.80 on the Toronto Stock Exchange.

Canadian Tire Corporation, Ltd. ((CTRA.TO)) of Toronto, Canada, raised its 2003 profit guidance, helped by strong sales across all of its segments. The diversified retailer said it now expects earnings of C$2.95 to C$3.00 per share, compared to a prior projection for profit of C$2.80 to C$2.85 per share.