Lower sales in Japan due to the Mar 11 disasters. Adobe forecasts second-quarter profit that missed analysts’ estimates because of earthquake and tsunami impact on sales.
Adobe Systems Inc. is the largest maker of graphic design software in the world. It has reduced its sales forecast by $50 million because of the disasters in Japan – its second largest market after the U.S. According to analysts, Japan accounts for 10 – 15 percent of Adobe’s revenue each quarter.
Profit for the current quarter is expected to be 47 – 54 cents. This compares with a 56 cents average based on analysts’ projections compiled by Bloomberg.
“We saw a noticeable drop in our revenue,”Aaron Ricadela from Businessweek quotes Mark Garrett, Adobe’s Chief Financial Officer.
Tags: Adobe, Creative Suite, CS5