In its first quarter fiscal 2001 intra-quarter update, Adobe revealed that it is experiencing a slow-down in some geographic market areas, primarily in the US. This slowdown is attributed, which is affecting all of its product segments, to weakening economic conditions and that the softness in the US could affect its revenue outlook for the quarter.
As a result the company is also spending cautiously to achieve its stated operating profit goals for the first quarter.
At this point in the quarter with one month to go, we can see that the deteriorating economy, particularly in the US, is starting to affect us, said Bruce R. Chizen, president and CEO of Adobe in a press statement. In light of this situation, we are closely monitoring our spending and prudently managing our business to meet our bottom line guidance for the quarter. Although the near-term outlook for the economy is uncertain, we believe the long term drivers of our future growth around Network Publishing are still intact.
