Simplex Solutions

(SPLX)

said first-quarter earnings would fall short of estimates because of the slowdown in technology spending.

The Sunnyvale, Calif., maker of software used in chip design expects to break even on a pro forma basis in the quarter, which ended Dec. 31, on revenue of $11 million to $11.1 million. According to First Call, analysts were expecting earnings of 3 cents a share.

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The company said it expects "excellent" operating cash flow for the quarter but doesn't expect customer order rates to improve "until the markets and the economy recovers."