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SAP 1Q Net Profit Falls 16 Percent To Euro204 Million
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SAP
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GEORGE FREY
FRANKFURT (AP) — German software company SAP AG said Wednesday that the company's first quarter net profit fell 16 percent because of factors including lower software revenues as businesses cut back purchasing in the recession, and on charges from staff reductions.
The Walldorf-based company said net profit in the January-March period fell to euro204 million ($269 million) from euro242 million in the first quarter a year ago.
Sales for the period were also 3 percent lower at euro2.4 billion from euro2.46 billion. ...
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