SAP AG today announced its preliminary financial results for the first quarter ended April 30, 2008. Business Objects is included in these results from January 21, 2008 onwards.
SAP reported its ninth consecutive quarter of share gains. Based on U.S. GAAP first quarter 2008 software and software related service revenues on a rolling four-quarter basis, SAP's worldwide share of Core Enterprise Applications vendors, which account for approximately $37.4 billion in software and software related service revenues as defined by the Company based on industry analyst research, was 32.6% for the four-quarter period ended March 31, 2008 compared to 31.9% for the four-quarter period ended December 31, 2007, and 28.2% for the four-quarter period ended March 31, 2007, representing a year-over-year share gain of 7.6 percentage points, of which approximately 4 percentage points came from organic growth. All prior period share numbers have been adjusted to reflect the acquisition of Business Objects.
Operating cash flow from continuing operations for the first quarter of 2008 was euro 1.07 billion (2007: euro 852 million). Free cash flow for the first quarter of 2008 was euro 1.0 billion (2007: euro 773 million), which was 41% of total revenues (2007: 36%). At March 31, 2008, the Company had total group liquidity of €2.4 billion, which includes cash and cash equivalents, restricted cash and short term investments (December 31, 2007: euro 2.8 billion).
SAP's small and midsize enterprise (SME) business continued to perform well in the first quarter of 2008 as the Company added more than 1,570 new SME customers (excluding customers from Business Objects) in the quarter, representing a 28% increase compared to the first quarter of 2007.
"We are pleased to report our 17th consecutive quarter of double-digit growth in software and software related service revenues, even without the inclusion of Business Objects' contributions for the quarter, along with our ninth consecutive quarter of share gains against Core Enterprise Application vendors," said Henning Kagermann, co-CEO of SAP. "Our continued strong performance can be partly attributed to having a leading presence in all regions of the world, making SAP a truly global software company."
Via this SAP announcement.
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