                 staticTextFormat.italic = italic;
                 
                 if (sm != null && sm.isFontFaceEmbedded(staticTextFormat))
-                    moduleFactory = sm;
+                    fontContext = sm;
             }
         }
-        else
-        {
-            moduleFactory = fontLookup == FontLookup.EMBEDDED_CFF ?
-                			fontContext :
-            				null;
-        }
-        
-        return moduleFactory;
+
+        if (!fontContext && fontLookup == FontLookup.EMBEDDED_CFF)
+        {
+            // if we couldn't find the font and somebody insists it is
+            // embedded, try the default moduleFactory
+            fontContext = moduleFactory;
+        }
+        
+        return fontContext;
 	}
 
     /**

import mx.core.EmbeddedFont;
import mx.core.IEmbeddedFontRegistry;
import mx.core.IFlexModuleFactory;
import mx.core.IFontContextComponent;
import mx.core.IIMESupport;
import mx.core.IUIComponent;
import mx.core.Singleton;

 *  @productversion Flex 4
 */
public class RichEditableText extends UIComponent
	implements IViewport, IIMESupport
{
    include "../core/Version.as";
        
