Tuesday, April 24, 2007
SAP earnings fail to meet expectations - International Herald Tribune
SAP earnings fail to meet expectations - International Herald Tribune: "SAP, the world's largest maker of business-management software, said Friday that first-quarter profit rose 9.9 percent because of higher product license and support fees.
The results met analysts' forecasts for sales of new software licenses, but missed expectations for earnings after a difficult first quarter, in which SAP lost a top manager and faced a lawsuit from a rival.
Net income climbed to €310 million, or $422 million, from €282 million a year earlier, the company said in a statement. Software and related service revenue rose 9.4 percent to €1.52 billion.
Henning Kagermann, chief executive of SAP, overhauled the company's management last month after the surprise resignation of Shai Agassi, the top software executive."
The results met analysts' forecasts for sales of new software licenses, but missed expectations for earnings after a difficult first quarter, in which SAP lost a top manager and faced a lawsuit from a rival.
Net income climbed to €310 million, or $422 million, from €282 million a year earlier, the company said in a statement. Software and related service revenue rose 9.4 percent to €1.52 billion.
Henning Kagermann, chief executive of SAP, overhauled the company's management last month after the surprise resignation of Shai Agassi, the top software executive."
