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Adobe says sales may slip

The publishing software maker says it should meet third-quarter earnings targets, but it cautioned that sales could fall short.

Adobe Systems said Monday that it should match its targets for third-quarter earnings but cautioned that sales could fall short.

Adobe, which makes publishing software, said that its previous goal of flat year-over-year revenue "could be affected due to weaker-than-expected economic conditions impacting all of its product segments."

Adobe earned 29 cents per share on sales of $328.9 million in last year's third quarter. Analysts were expecting the company to post revenue of about $326.4 million for this year's third quarter, according to First Call. Analyst consensus for earnings was for a 28 cent per-share profit, with a range of 26 cents to 30 cents.

The company will formally report results Sept. 13.

Adobe said that U.S. revenue was solid in June, but weaker than expected in July. July was also bad for Japanese sales, where revenue slid further than anticipated.

But European sales managed to stabilize during the first two months of the quarter, the company said.

Adobe had lowered its revenue guidance for the quarter last month, citing then-slumping European sales.