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SAP reports modest growth

Business software maker SAP has reported a 7% revenue growth for the fourth quarter, though profit was down as a result of...

Business software maker SAP has reported a 7% revenue growth for the fourth quarter, though profit was down as a result of exceptional items.

Net income for the quarter ending 31 December 2001 stood at €319m (£198m). The results were dragged down by one-off costs incurred by SAP's acquisition of TopTier Software, and from the company increasing its stake in Commerce One.

SAP said that without exceptional items, net income for the quarter would have been €379m (£235m), up slightly from a comparable figure of €375m for the same period a year ago.

Revenue for the last quarter, at €2.32bn (£1.4bn), was up 7% on the €2.16bn posted last year. Earnings per share amounted to €1.02, as against the fourth-quarter 2000 figure of €1.17.

For the full year, net income was down some 6%, to €581m (£360m) from the €616m posted in 2000. Revenue for the year, on the other hand, was up 17%, at €7.34bn (£4.56bn), as against the €6.27bn reported the previous year.

The company said it expects 2002 to be "another challenging year," and projected revenue growth of about 15%.

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