SAP Net Falls 12%, Sees Higher Sales
WALLDORF, Germany (TheStreet) -- SAP (SAP), the German maker of business-management software, said fourth-quarter net income fell 12% to 727 million euros ($1.02 billion) from 830 million euros a year earlier as revenue fell 9%.
SAP said fourth-quarter software license revenue fell 15% to 1.12 billion euros from 1.32 billion euros in the same period in 2008.
In a statement Wednesday, SAP CEO Leo Apotheker said, "Along with margin expansion for 2010, we are also ready to return to top-line growth, although the market continues to be challenging and uncertainty among customers still exists."
SAP said it expects non-IFRS software and software-related service revenue to rise 4% to 8% at constant currencies in 2010. The company is switching to IFRS reporting from U.S. GAAP reporting.
SAP said it expects its full-year 2010 non-IFRS operating margin to be in a range of 30% to 31% at constant currencies, up from 27.4% in 2009. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.Select the service that is right for you!
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