Germany's SAP AG said Monday that it expects to post a 13 to 14 percent increase in software-related revenues for the third quarter, but said it saw a sudden drop in business at the end of September as global market turmoil escalated.
Walldorf-based SAP said it expects software and software-related service revenues for the July-September period to come in at between euro1.97 billion and euro1.98 billion _ between US$2.66 billion and US$2.67 billion.
That compares with revenues of euro1.74 billion in the third quarter of 2007.
SAP said final revenue and net profit figures are not yet available. The company reports final figures for the quarter on Oct. 28.
"The market developments of the past several weeks have been dramatic and worrying to many businesses," Henning Kagermann, the co-chief executive of the company, said in a statement.
"These concerns triggered a very sudden and unexpected drop in business activity at the end of the quarter," he added.
"Unfortunately, SAP was not immune from the economic and financial crisis that has enveloped the markets in the second half of September, causing us to report numbers below our expectations."
SAP said in July the company expected software and related service revenues _ excluding a charge related to an acquisition _ to increase by between 24 percent and 27 percent for the year.
The company said the Americas region is expected to report software and software-related service revenue growth of around 12 percent for the third quarter, while the Europe, Middle East and Africa region is expected to report growth of around 14 percent.
The Asia Pacific Japan region is expected to report growth of around 18 percent for the quarter.
SAP said that, for the first nine months, the company is expecting to book revenue for software and software related service revenues at about euro5.8 billion (US$7.83 billion) _ an increase of about 17 percent from last year.
The company said third-quarter revenues from software alone were expected to come in 7 percent to 9 percent higher, between euro740 and euro750 million (US$999 million to US$1 billion) _ compared with euro715 million in the year ago quarter at constant currencies.
SAP made its announcement after its shares closed down more than 16 percent in a broadly lower Frankfurt market at euro28.84 (US$38.93).
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