SAP Profit Falls 36% on Oracle Suit Costs

WALLDORF, Germany ( TheStreet) -- SAP ( SAP) said fourth-quarter profit fell 36% after recording litigation expenses of €933 million ($1.28 billion).

Fourth-quarter earnings at the German business software maker were €437 million ($598.9 million) vs. €682 million a year earlier.

Total revenue in the quarter rose 27% to €4.06 billion. Software revenue jumped 35% to €1.51 billion.

In November, Oracle ( ORCL) was awarded $1.3 billion in damages from SAP after it sued its rival for software theft.

SAP said Wednesday it believes that the amount awarded by the jury to Oracle was "disproportionate and wrong." SAP said it intends to ask the court to reduce the amount of damages awarded or to order a new trial.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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