Soft Economy Dents SAP’s Armored Shield As Well
P.J. Jakovljevic - November 9, 2001

Event Summary

On October 18, SAP AG (NYSE: SAP), the leading provider of business software solutions, announced mixed financial results for the third quarter ended September 30, 2001. In Q3 2001, revenues increased 16% over the same period last year from EUR 1.42 billion to EUR 1.85 billion (See Figure 1). However, net income in the quarter dropped 55% to EUR 37 million compared to EUR 83 million a year earlier. While product revenues in the third quarter rose 9% to EUR 995 million from EUR 913 million a year ago, license revenues were down 7% to EUR 447 million from EUR 480 million. Consulting and training revenues saved the day by rising 30% to EUR 524 million and 19% to EUR 113 million, respectively...