The recession took its toll on enterprise software specialist SAP with the vendor releasing a set of full year results littered with minus signs.
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For its financial year ended 31 December SAP reported a 28% decline in software revenues from €3.6bn to €2.6bn and service revenue also dipped by 3% leading to an 8% decline in total revenues from €11.5bn to €10.6bn.
Net income also took a hit dropping by 4% and the vendor was also impacted by a €196m restructuring charge.
"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," said Leo Apotheker, CEO of SAP.
The vendor is forecasting an increase in the region of 4-8% in software and services revenue in 2010.
The restructuring charge, which resulted from the vendors moves to trim its workforce and reduce costs, was a sign of a determination to control spending that will not be relaxed going forward.
"For 2010, we will continue to maintain strict cost controls with a spotlight on further margin expansion," said Werner Brandt, CFO of SAP.