Macromedia Falls on Warning

By TSC Staff ,

Macromedia (MACR) was down 17.2% in preopen Island trading after warning after the close Wednesday it expects a first-quarter loss of 15 to 20 cents a share on revenue of $85 million to $90 million. Analysts were expecting earnings of 13 cents a share, according to Thomson Financial/First Call.

The software maker said the market for its Web professional development tools was off 20% to 30% for the quarter.

The company said it remained confident in its long-term product strategy and is taking "aggressive steps" to cut costs.

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