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SAP Reports Record Fourth Quarter 2010 Software Revenue

Germany Jan. 26, 2011 SAP AG December 31, 2010

http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO

FINANCIAL HIGHLIGHTS — Fourth Quarter 2010

Fourth Quarter 2010(1)

IFRS

Non-IFRS(2)

euro million, unless
otherwise stated

Q4 2010

Q4 2009

% change

Q4 2010

Q4 2009

% change

% change const. curr.(3)

Software revenue

1,507

1,120

35%

1,507

1,120

35%

25%

Software and software-related service revenue

3,273

2,566

28%

3,309

2,566

29%

20%

Total revenue

4,058

3,190

27%

4,094

3,190

28%

20%

Total operating expenses

-3,515

-2,168

62%

-2,484

-2,055

21%

15%

– thereof TomorrowNow litigation

-933

-49

>100%

na

na

na

na

Operating profit

543

1,022

-47%

1,610

1,134

42%

30%

Operating margin (%)

13.4

32.0

-18.6pp

39.3

35.5

3.8pp

3.0pp

Profit after tax

437

682

-36%

1,103

761

45%

Basic earnings per share (euro)

0.37

0.57

-35%

0.93

0.64

45%

1) All figures are preliminary and unaudited.

2) Adjustments in the revenue line items are for the support revenue that would have been recognized had the acquired entities remained stand-alone entities but that SAP is not permitted to recognize as revenue under IFRS as a result of business combination accounting rules. Adjustments in the operating expense line items are for acquisition-related charges and discontinued activities.

3) Constant currency revenue and operating profit figures are calculated by translating revenue and operating profit of the current period using the average exchange rates from the previous year’s respective period instead of the current period. Constant currency period-over-period changes are calculated by comparing the current year’s Non-IFRS constant currency numbers with the Non-IFRS number of the previous year’s respective period.

Revenue — Fourth Quarter 2010

  • euro 1.51 billion euro 1.12 billion
  • euro 3.27 billion euro 2.57 billion euro 3.31 billion euro 2.57 billion
  • Excluding the contribution from Sybase, SAP’s business contributed 21 percentage points to the growth of IFRS and Non-IFRS software and software related service revenue (13 percentage points at constant currencies).
  • euro 4.06 billion euro 3.19 billion euro 4.09 billion euro 3.19 billion

euro 36 million

Income — Fourth Quarter 2010

  • euro 543 million euro 1.02 billion euro 1.61 billion euro 1.13 billion euro 5 million euro 6 million euro 933 million euro 49 million
  • IFRS operating margin was 13.4% (2009: 32.0%), a decrease of 18.6 percentage points. Non-IFRS operating margin was 39.3% (2009: 35.5%), or 38.5% at constant currencies, an increase of 3.8 percentage points (3.0 percentage points at constant currencies). In contrast to the respective quarter in 2009, the fourth quarter of 2010 was not materially impacted by restructuring expenses which had, in the fourth quarter of 2009, negatively impacted the IFRS and Non-IFRS operating margin by 0.2 percentage points.  In the fourth quarter of 2010, the IFRS operating margin was negatively impacted by 23.0 percentage points (2009: 1.5 percentage points), resulting from an increase in the provision for the TomorrowNow litigation.
  • euro 437 million euro 682 million euro 1.10 billion euro 761 million euro 0.37 euro 0.57 euro 0.93 euro 0.64 euro 0.49 euro 0.03

euro 36 million euro 96 million euro 64 million euro 935 million euro 49 million euro 23 million euro 67 million euro 49 million euro 575 million euro 30 million euro 933 million euro 49 million euro 586 million euro 31 million

Werner Brandt euro 0.50 to euro 0.60

Bill McDermott

“SAP fundamentally believes in innovation and choice as a sustainable business model for us and our customers,” said Jim Hagemann Snabe, Co-CEO of SAP. “We have a full pipeline of innovations and are expanding into new markets for mobility, on demand and in-memory computing. We are convinced that these new innovations will help us drive double digit growth and reach 1 billion users by 2015.”

TomorrowNow Litigation

SAP has great respect for the US legal system and Court decisions. However, SAP believes that the amount awarded by the jury in Oracle v. SAP/TomorrowNow is disproportionate and wrong. After the Court has entered final judgment SAP intends to file post-trial motions in the coming weeks asking the Court to reduce the amount of damages awarded, or to order a new trial. Depending on the outcome of the post-trial motion process, SAP may consider an appeal. Because the motions have not yet been filed and the outcome of the motions remains uncertain the amount by which the jury award would be reduced cannot be reliably measured at this time. Therefore, SAP has based the provision on the jury award. SAP will consider all new information and developments emerging over the coming weeks to determine the appropriate provision amount for SAP’s final full year 2010 financials. Therefore, SAP cannot exclude the possibility that the final provision differs from the preliminary amounts presented in this earnings release.

FINANCIAL HIGHLIGHTS — Full-Year 2010

Full Year 2010(1)

IFRS

Non-IFRS(2)

euro million, unless
otherwise stated

FY 2010

FY 2009

% change

FY 2010

FY 2009

% change

% change const. curr.(3)

Software revenue

3,265

2,607

25%

3,265

2,607

25%

16%

Software and software-related service revenue

9,794

8,198

19%

9,866

8,209

20%

13%

Total revenue

12,464

10,672

17%

12,536

10,683

17%

11%

Total operating expenses

-9,875

-8,084

22%

-8,592

-7,756

11%

6%

– thereof TomorrowNow litigation

-980

-56

>100%

na

na

na

na

Operating profit

2,589

2,588

0%

3,944

2,927

35%

23%

Operating margin (%)

20.8

24.3

-3.5pp

31.5

27.4

4.1pp

3.1pp

Profit after tax

1,816

1,750

4%

2,694

2,001

35%

Basic earnings per share (euro)

1.53

1.47

4%

2.27

1.68

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