SAP turned in lower fourth quarter results than it had predicted earlier this year, claiming trouble in the Japanese market and a substantial currency impact from the Americas.
The enterprise resource planning (ERP) applications vendor confirmed earlier reports on Tuesday that its 1998 revenues were up 41 per cent to DM 8.47 billion, while its net earnings rose 14 per cent to DM 1.92 billion.
But Henning Kagermann and Hasso Plattner, SAP?s co-chairmen, said that despite the disappointing figures, they remain confident that 1999 will see a 20-25 per cent increase in revenues, with a ?slight? growth in net earnings.
The markets reacted well to the company's news, however, and its shares edged upwards $4.44 to $37.19, which is still well below the heyday price of $60. (see analysis section for further details)
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