Software firm Adobe Systems announced that it cut more jobs in the fourth quarter than it had previously predicted.
The redundancies came in response to weak sales.
In October, the company reduced its forecast for fourth quarter revenues, and announced that 150 jobs would be lost.
The results published yesterday showed that 247 jobs had gone.
Chief financial officer, Murray Demo, predicted that all of Adobe's markets would continue to remain weak in the first quarter of 2002, with revenues similar to the fourth quarter.
Revenues for the quarter were $264.5m, compared with $355.2m for the same period in 2000. Earnings per share $0.14.
On a slightly more positive note, the company reported 41 percent annual growth in its Adobe Acrobat business.
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