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Software AG Q3 Profit Declines; Backs FY14 Forecast(dpa-AFX International Compact Via Acquire Media NewsEdge) DARMSTADT-EBERSTADT (dpa-AFX) - German business software firm Software AG (STWRY.PK) reported Wednesday that its third-quarter net income attributable to shareholders dropped 2 percent to 30.369 million euros from last year's 31.029 million euros. Earnings per share, however, increased 3 percent to 0.38 euro from 0.37 euro a year ago, with lower share count. Total revenues for the quarter declined 14 percent to 205.64 million euros from 238.50 million euros last year, reflecting sharp decline in licenses and services. As expected, Business Process Excellence revenue remained below the previous year's extraordinarily high level, but the sequential improvement supports Software AG's goal of further expanding the BPE business, the company noted. Based on the third quarter performance, the company confirmed its full year 2014 targets. The company previously said that it expects BPE revenues to remain approximately at the previous year's level. Revenue forecast in the traditional database business ETS is at a reduction of 16 percent to 9 percent. The company expects an adjusted operating margin of 26-28 percent for the full year, compared to previous year's 26.8 percent. Copyright RTT News/dpa-AFX |