SAP Lowers Revenue Expectations
P.J. Jakovljevic - October 20, 1999

Event Summary

Enterprise resource planning vendor SAP announced on October 13 that it anticipates its 1999 revenues to be lower than initially expected. Following an analysis of third-quarter results, to be announced next week, SAP's board of directors said it abandoned expectations of a 20% to 25% increase in revenue and improved pretax profit margin of up to 1 percentage point. SAP's board said it is still hopeful the company can achieve revenue growth of between 15% and 20% for the year, even though third-quarter revenues are estimated at just 7%. SAP expects strong fourth-quarter sales for its mySAP.com portal software, which was launched last month...