Thursday, January 30, 2003
SAP said its 2002 sales and operating margins have increased as a result of restructuring and cost cutting.
Fourth-quarter net income rose to $513.5 million from $345.6 million a year earlier, including charges from its stake in U.S. software group Commerce One and other impairment costs.
Excluding the charges, net income was up 19 percent at about $533 million.
Europe's largest software maker said it had increased 2002 sales by 1 percent to $8.05 billion. Fourth-quarter sales slipped 2 percent due to weaker dollar. At constant currency rates, the figure was up 5 percent.
SAP gave no firm revenue forecast for the current year but said it would improve profitability.
By: DocMemory
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