Shares of chip-design software maker Synopsys Inc. plummeted after warning of US export restrictions impacting China sales. CEO announced refocusing resources and reducing headcount by 10%. Stock fell 36% in New York, biggest drop since 1992 IPO. Revenue forecast for next quarter falls short of analyst estimates.

Synopsys and rival Cadence Design Systems Inc. are major providers of software for electronic component design. US government has taken actions to limit Chinese access to advanced semiconductors. Synopsys predicted revenue of up to $2.26 billion for the next quarter, with profit below analyst expectations.

CEO Sassine Ghazi cited underperformance in the IP business due to new export restrictions in China and challenges at a major foundry customer. The company’s decisions on roadmaps and resources did not yield intended results. Stock had been up 25% this year before the sharp decline.

Read more at Yahoo Finance: Synopsys Suffers Worst Rout Ever After Trade War Hits Sales