SAP shines on through the doom and gloom

SAP, Europe's largest software company, has exceeded analysts' expectations and more than doubled its net income for the first quarter of fiscal 2001 - up 109 per cent from the same period last year.

By editorial@silicon.com, 19 April 2001 16:57

NEWS The company signaled a confident outlook for the first three quarters of 2001 despite the current challenging environment in the technology sector. Revenues increased to E1.5bn (£930m), representing a 29 per cent increase over the same quarter for fiscal 2000. For the nine months ending 30 September, 2001, SAP has forecast that revenue will slightly exceed the 23 per cent growth rate achieved in fiscal 2000. In the first quarter of 2001, consulting revenues were the fastest increasing area of business, up 38 per cent to E458m (£283m). SAP has also bucked the trend for job cuts in the technology sector, adding over 1,000 employees to its payroll over the past quarter.

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