Adobe Systems Inc.
has offered an intra-quarter business update for its third quarter, which ends August 31. Although Adobe is on track for its third quarter, the company said that revenue in July was even weaker than expected, thanks in part to a poor Japanese market. The net result, said Adobe, is that they expect flat year-over-year growth could be affected.
Adobe did say that it is on track to meet its pro forma earnings target, however, and said that its revenue in Europe had “stabilized” during the first two months of the company’s third quarter — an improvement since a slow down that Adobe first noted in April.
Adobe president and CEO Bruce Chizen said that regardless of global economic conditions and the impact on the company’s third quarter revenue, Adobe’s still on track for the quarter.
“This is a testament to Adobe’s continued focus on operations and expense management,” said Chizen.
Adobe will report its third quarter fiscal 2001 results on September 13, 2001, following the close of the market.