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AU BACKE JETZT GIBT ES DIE DICKE KAKE FUER SAP FALLSCHIRM GRIFFBEREIT? LOL TOP SAP Succumbs to Tech Industry Woes,Posting Weak Results and Cutting Outlook By NEAL E. BOUDETTE and KEVIN J. DELANEY Staff Reporters of THE WALL STREET JOURNAL http://interactive.wsj.com/articles/SB1003392426104750040.ht… FRANKFURT -- SAP AG, which appeared to be weathering the technology slump, finally has succumbed. The software maker, which had been growing solidly despite flagging technology spending, reported disappointing third-quarter earnings and slashed its outlook for the final three months of the year. It said the attacks on New York and Washington Sept. 11 and the U.S.-led war on terrorism were "paralyzing" some customers, especially in the U.S., where software sales fell by a third in the quarter. The reversal by one of Europe`s steadiest companies left little doubt that the economic shock waves of the terrorist attack are already having a broad impact beyond the U.S. "The engine for growth has been Europe and now it seems to be running out of gas," said David Clayton, head of technology research at CSFB in London. In line with that view, French-Italian semiconductor maker STMicroelectronics NV forecast flat sales and profit in the fourth quarter, retreating from a July pledge of growth. It blamed uncertain consumer spending in the wake of the terrorist attacks and continuing pressure on chip prices. SAP indicated it is also headed for a flat fourth quarter. The company, which had said Sept. 20 that full-year sales would grow about 20%, scaled that projection back to 15%, which implies no growth in the last quarter. In a conference call, Co-Chief Executive Henning Kagermann said immediately after the terrorist attacks, customers had confirmed plans to buy new software, but some deals didn`t come through. Customers are likely to continue to delay spending plans beyond the fourth quarter and into 2002, said Hasso Plattner, SAP`s other chief executive. Companies "are afraid to move forward," he said. "It is a paralyzing situation." SAP`s deteriorating outlook was largely unexpected and sparked selling in its shares. On the Frankfurt Stock Exchange, the shares fell 13%, or 16.70 euros, to 110.20 euros each. "There was a loss of confidence because of this news," said Guenter Ferstl, a fund manager at Bawag KAG in Vienna. European Techs Stage Big Rebound, but Analysts Are Split on Outlook Commerce One to Cut Work Force by 46% Through Layoffs, Spinoffs (Oct. 15) SAP Approves Buyback of Shares to Be Used in Its Acquisition Plans (Sept. 28) For the third quarter, the world`s largest maker of business-management applications reported that revenue overall was in line with expectations, rising 6% to 1.7 billion euros from 1.4 billion euros in the year-ago period. The worrisome news was a drop in license revenue, a measure of how much new software the company sold. World-wide license revenue fell 7% to 447 euros million, led by a 34% drop in the critical U.S. market. Operating income for the quarter rose 7.4% to 159 million euros from 148 million euros, but net income fell 55% -- to 37 million euros from 83 million euros -- as a result of a 24 million euro loss related to its stake in Commerce One Inc. and other charges. STMicroelectronics isn`t faring any better. Chief Executive Pasquale Pistorio now predicts sales at the company, Europe`s largest chip maker, will fall 16% to 20% this year. He declined to comment on growth prospects for 2002, saying there wasn`t sufficient visibility. STMicroelectronics` comments are in line with statements this week by its U.S. rivals. Texas Instruments Inc. on Wednesday said it expects the fourth quarter to be "the floor" for its sequential quarterly sales declines. On the Paris Stock Exchange, STMicroelectronics shares slipped 5%, or 1.60 euros, to close at 30.55 euros each, declining with the rest of the tech sector. While struggling with excess inventory, STMicroelectronics announced that it is shuttering its plant in Rancho Bernardo, Calif., which employs 300 people. Earlier this year it began closing its plant in Ottawa, Canada. Mr. Pistorio said the company`s capacity utilization was slightly below 60% overall, compared to its "ideal" of 85%. "ST has the structural characteristics to be capable of outperforming the industry in 2002," Mr. Pistorio said in an interview. For the third quarter, ST reported a 91.4% decline in net income to $35.8 million, or four U.S. cents per diluted share, from $415 million, or 45 cents per diluted share, a year earlier. Third-quarter revenue declined 31.4% to $1.40 billion, down from $2.04 billion. Analysts` consensus estimates were for revenue of $1.37 billion and earnings per share of two cents, according to a Reuters survey. The gross margin was 33% in the quarter, down from 47% last year. |
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| aus der Diskussion: | Untersuchung gegen SAP |
| Autor (Datum des Eintrages): | Toppgun (19.10.01 02:53:48) |
| Beitrag: | 54 von 61 (ID:4674403) |
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