German applications developer Software AG (Frankfurt: SOW) recorded total revenues of 257mn euros (US$367mn) in the second quarter of 2011, a decline from 267mn euros in the year-ago period but flat at constant currency, the company said in a statement.
Software AG's net income in the quarter was up 3% to 38.7mn euros, while for the first six months of the year it increased 20% to 78.7mn euros.
Total revenues for the first half of the year increased 3%, from 518mn euros to 530mn euros.
Currency effects were felt in Software AG's results, as well as some license contracts that were not closed in the second quarter as planned.
Based on expected licensing contracts and consulting projects, the company maintains a positive revenue forecast for the second half of 2011. It has also confirmed its forecast for full 2011, expecting revenue growth of 5-7% at constant currency and a profit increase of 10-15%.
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