Software AG posts double-digit Q4 growth in the Americas

- Thursday, January 27, 2011

Software AG posts double-digit Q4 growth in the Americas

German applications developer Software AG (Frankfurt TecDAX: SOW) saw double-digit growth in the Americas during the fourth quarter of 2010, according to the company's latest financial results.

Software AG said its growth in region was focused in Brazil and the US.

Aided by its merger with IDS Scheer AG, which the company acquired in 2009, Software AG saw record yearly and quarterly results for both net profits and revenue.

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The company posted net profits of 64.7mn euros (US$88.9mn) during 4Q10, a 36% increase over the same period in 2009. Quarterly revenues were 327mn euros, up 12% compared with 4Q09's 292mn euros.

Full-year earnings were 176mn euros, growing 25% from 2009's 141mn euros, while 2010 revenues rose 32% to 1.12bn euros from 847mn euros the previous year.

For 2011, Software AG expects to see a 5-7% rise in revenues and 10-15% growth in net income.

Use this link to view the full results.