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Software firm sees net profit slide 16%

GERMAN software company SAP AG's first-quarter net profit fell 16 percent because of factors including lower revenues and charges from staff reductions, it said yesterday.

The Walldorf-based company said net profit was 204 million euros (US$269 million) compared to 242 million euros in the same period last year.

Sales for the period were also lower at 2.40 billion euros from 2.46 billion euros.

"Due to the continued uncertainty surrounding the economic and business environment, SAP will not provide a specific outlook for software and software-related service revenues for the full-year 2009," the company said in its report.


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