Graphic software maker
Adobe Systems Inc.
announced late Thursday it will cut marketing spending by delaying the purchase of certain software to meet profit forecasts.
The San Jose, Calif.-based concern said it had intended to buy customer-relations software for managing its direct sales, but will now postpone the purchase.
“I wouldn’t want to be a vendor that has large-capital equipment or a large-ticket item,” Chief Executive Officer Bruce Chizen said in a conference call to analysts. “Can you put it off? How critical is it? These are the types of decisions every CEO will be making.”
The company recently announced that revenue for its first fiscal quarter, which ends March 2, might miss its forecast for growth of 25 percent because of the slowing U.S. economy.
About 40 percent of Adobe’s business in its fiscal first quarter comes in February, Chizen said.