One of the most honest voices in the downturn has come fromthe board room at SAP as the German software player has consistently spelt outthe reality of the economic situation.
So it is no surprise that the co-CEO struck a sanguine tone when revealing the full year figures for last year.
In the vendor’s full year figures for 2008 software revenuesincreased by 6% and net income dropped by 2% with income from continuingoperations remaining flat.
The vendor followed the example set by many others in thelast few weeks and said it would not be issuing guidance for the rest of theyear.
“We expect 2009 to be a year of limited visibility, makingit increasingly difficult to project sales in this environment,” said LeoApotheker, co-CEO of SAP.
He added that a great deal of its business was based onrecurring revenue and it still had a solid product portfolio so it expected toexit the downturn in a strong position.
“This is not the first time we have experienced tougheconomic times and we believe we are well prepared to endure it,” he said.
SAP has already announced plans last October to cut costsand as part of that ongoing process 3,000 jobs are being axed.
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