Adobe Systems Issues Intra-Quarter Business Update
Company Focuses on Operating Profit Goals Due to Weakening U.S. Economy
SAN JOSE, Calif., Jan. 30 /PRNewswire/ -- Adobe Systems Incorporated (Nasdaq: ADBE - news) today is providing an intra-quarter
update on business for its first quarter in fiscal 2001, which ends March 2, 2001. The Company is also announcing that, in support of
SEC Regulation Fair Disclosure rules, it will provide similar intra-quarter business updates near the end of the second month of its fiscal
quarters going forward.
In its first quarter fiscal 2001 intra-quarter update, Adobe announced today that it is experiencing a slow-down in some geographic
market areas, primarily in the United States. The Company attributes the slow-down, which is affecting all of its product segments, to
weakening economic conditions, and states that the softness in the U.S. could affect its revenue outlook for the quarter. 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 U.S., is starting to
affect us,'' said Bruce R. Chizen, president and chief executive officer of Adobe. ``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.''
The Company plans to report its first quarter fiscal 2001 results on March 15, 2001 after the market closes.
This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ
materially. Factors that might cause or contribute to such differences include, but are not limited to: lack of market acceptance of new
products and upgrades; delays in shipment of the Company's new products and major new versions of existing products; introduction of
new products by major competitors; declines in the average selling price of the Company's products; industry transitions to new
distribution, business and information delivery models; ongoing weakness in the Company's printing business due to product transitions;
and adverse economic conditions in any of the major countries in which the Company does business. For further discussion of the risks
and uncertainties, readers should refer to the Company's SEC filings including the 1999 annual report on Form 10-K and quarterly
reports on Form 10-Q filed by the Company in 2000.
About Adobe Systems Incorporated
Adobe Systems Incorporated (www.adobe.com) builds award winning software solutions for Network Publishing, including Web, print,
video, wireless and broadband applications. Its graphic design, imaging, dynamic media and authoring tools enable customers to create,
manage and deliver visually-rich, reliable content. Headquartered in San Jose, Calif., Adobe is the second largest PC software company
in the U.S., with annual revenues exceeding $1.2 billion.
NOTE: Adobe and the Adobe logo are trademarks of Adobe Systems Incorporated. |
