Larry Dignan (ZDNet) submits: Japan represents Adobe?s second largest country based on revenue and the company is cutting its second quarter outlook due to the earthquake, tsunami and its aftermath.
For the fiscal second quarter, Adobe (ADBE) projected revenue of $970 million to $1.02 billion. Non-GAAP earnings will be 47 cents a share to 54 cents a share. GAAP earnings will be about 33 cents a share to 40 cents a share. Wall Street was looking for non-GAAP earnings of 56 cents a share on revenue of $1.03 billion.
In a statement, Adobe CFO Mark Garrett said that it was prudent to cut its revenue projections for Japan. Garrett said:
Japan is our second largest country from a revenue perspective and March is typically our biggest revenue month of the year there due to fiscal year-end spending. Given the uncertain business environment in Japan, we are being prudent and have reduced our revenue expectation
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