Exhibit 99.2

MACROMEDIA, INC.

Consolidated Statements of Income

Reconciliation of Reported to Restated Consolidated Statements of Operations

(In thousands, except percentages and per share data)

(unaudited)

	Year Ended March 31, 2004									Year Ended March 31, 2003									Year Ended March 31, 2002
	Reported			Adjustment			As Restated			Reported			Adjustment			As Restated			Reported			Adjustment			As Restated
Net revenues	$	369,786		$	—		$	369,786		$	336,913		$	—		$	336,913		$	326,498		$	—		$	326,498
Cost of revenues:
Cost of net revenues		30,638			20			30,658			36,065			19			36,084			44,050			5			44,055
Amortization and impairment of acquired developed technology		1,954			—			1,954			21,770			—			21,770			11,332			—			11,332
Total cost of revenues		32,592			20			32,612			57,835			19			57,854			55,382			5			55,387
Gross profit		337,194			(20	)		337,174			279,078			(19	)		279,059			271,116			(5	)		271,111
Operating expenses:
Sales and marketing		155,963			383			156,346			145,297			361			145,658			170,851			113			170,964
Research and development		91,220			473			91,693			92,385			446			92,831			110,118			140			110,258
General and administrative		37,381			131			37,512			36,168			124			36,292			43,693			39			43,732
Amortization and impairment of intangible assets		1,135			—			1,135			3,207			—			3,207			103,200			—			103,200
Write-off of acquired in-process technology		2,010			—			2,010			357			—			357			—			—			—
Restructuring expenses		—			—			—			—			—			—			81,820			—			81,820
Total operating expenses		287,709			987			288,696			277,414			931			278,345			509,682			292			509,974
Operating income		49,485			(1,007	)		48,478			1,664			(950	)		714			(238,566	)		(297	)		(238,863	)
Other income (expense):
Interest income, net		3,698			—			3,698			4,117			—			4,117			6,522			—			6,522
Gain (loss) on investments and other, net		927			—			927			852			—			852			(6,980	)		—			(6,980	)
Loss on equity affiliate		—			—			—			—			—			—			(36,016	)		—			(36,016	)
Litigation settlements, net		—			—			—			(1,178	)		—			(1,178	)		(31,402	)		—			(31,402	)
Other, net		(1,000	)		—			(1,000	)		(435	)		—			(435	)		(122	)		—			(122	)
Total other income (expense)		3,625			—			3,625			3,356			—			3,356			(67,998	)		—			(67,998	)
Income (loss) before income taxes		53,110			(1,007	)		52,103			5,020			(950	)		4,070			(306,564	)		(297	)		(306,861	)
Provision for income taxes		11,626			3,057			14,683			3,448			(317	)		3,131			2,266			(399	)		1,867
Net income (loss)	$	41,484		$	(4,064	)	$	37,420		$	1,572		$	(633	)	$	939		$	(308,830	)	$	(102	)	$	(308,728	)
Net income (loss) per common share:
Basic	$	0.64					$	0.58		$	0.03					$	0.02		$	(5.31	)				$	(5.31	)
Diluted	$	0.60					$	0.54		$	0.03					$	0.02		$	(5.31	)				$	(5.31	)
Weighted average common shares outstanding used in net income per common share calculation:
Basic		64,380						64,380			60,170						60,170			58,190						58,190
Diluted		69,430						69,430			61,190						61,190			58,190						58,190

MACROMEDIA, INC.

Consolidated Balance Sheets

Reconciliation of Reported to Restated Consolidated Balance Sheets

(In thousands)

(unaudited)

	March 31, 2004									March 31, 2003
	Reported			Adjustment			As Restated			Reported			Adjustment			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	92,662		$	—		$	92,662		$	96,831		$	—		$	96,831
Short-term investments		190,029			—			190,029			118,755			—			118,755
Accounts receivable, net		38,210			—			38,210			27,610			—			27,610
Restricted cash		16,363			—			16,363			—			—			—
Prepaid expenses and other current assets		15,581			(2,218	)(A)		13,363			13,962			(2,134	)(A)		11,828
Total current assets		352,845			(2,218	)		350,627			257,158			—			255,029
Property and equipment, net		45,512			—			45,512			34,856			—			34,856
Goodwill, net		237,839			84	(B)		237,923			201,392			416	(C)		201,808
Purchased and other intangible assets, net		12,950			4,100	(A)		17,050			4,526			4,042	(A)		8,568
Restricted cash, less current portion		7,022			—			7,022			11,412			—			11,412
Deferred income taxes, non-current		16,062			—			16,062			9,898			—			9,898
Other assets		9,658			(1,882	)(A)		7,776			8,181			(1,908	)(A)		6,273
Total assets	$	681,888		$	84		$	681,972		$	527,423		$	416		$	527,839
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	5,311		$	—		$	5,311		$	6,714		$	—		$	6,714
Accrued payroll and related liabilities		17,634			6,126	(C)		23,760			13,540			5,119	(C)		18,659
Accrued liabilities		41,151			—			41,151			26,350			—			26,350
Income taxes payable		11,838			2,009	(B)		13,847			10,294			(716	)(B)		9,578
Accrued restructuring		6,934			—			6,934			11,024			—			11,024
Deferred revenues		32,215			—			32,215			29,618			—			29,618
Total current liabilities		115,083			8,135			123,218			97,540			4,403			101,943
Other liabilities, non-current:
Accrued restructuring		11,657			—			11,657			20,064			—			20,064
Deferred revenues		5,173			—			5,173			4,298			—			4,298
Other liabilities		5,024			—			5,024			5,991			—			5,991
Total liabilities		136,937			8,135			145,072			127,893			4,403			132,296
Commitment and contingencies
Stockholders’ equity:
Preferred stock, par value $0.001 per preferred share: 5,000 shares authorized, no shares issued as of March 31, 2004 and 2003		—			—			—			—			—			—
Common stock, par value $0.001 per common share: 200,000 shares authorized, 70,069 and 62,965 shares issued as of March 31, 2004 and 2003, respectively		70			—			70			63			—			63
Treasury stock, at cost; 1,818 shares as of March 31, 2004 and 2003		(33,649	)		—			(33,649	)		(33,649	)		—			(33,649	)
Additional paid-in capital		855,073			—			855,073			751,134			—			751,134
Accumulated other comprehensive income		408			—			408			417			—			417
Accumulated deficit		(276,951	)		(8,051	)		(285,002	)		(318,435	)		(3,987	)		(322,422	)
Total stockholders’ equity		544,951			(8,051	)		536,900			399,530			(3,987	)		395,543
Total liabilities and stockholders’ equity	$	681,888		$	84		$	681,972		$	527,423		$	416		$	527,839

(A) Reclassifications to conform to the current presentation.

(B) Effect of non-cash restatement to properly record a liability related to income taxes.

(C) Effect of non-cash restatement to properly record a liability related to an employee sabbatical leave program and related goodwill adjustment for prior service credit granted to employees assumed in a FY 2001 acquisition.