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German applications developer Software AG (Frankfurt: SOW) recorded total revenues of 275mn euros (US$388mn) in the third quarter of 2011, flat compared to the year-ago period, the company said in a statement.
Software AG's net income in the quarter inched up 2% to 46.6mn euros, from 45.5mn euros a year ago.
License revenues increased 7% year-on-year in the quarter to 74mn euros, while maintenance and consulting and services revenues saw 2% and 3% declines to 94mn euros and 105mn euros, respectively.
Third quarter figures confirm the strong growth in Business Process Excellence (BPE) license revenues, up 37% at constant currency rates. Both the associated increase in product revenue and the financial turnaround in the IDS Scheer Consulting business raised the Ebit margin by 110 basis points to 26.2% in the third quarter, the company said.
Software AG confirmed its original full 2011 target in BPE product sales growth of 10-15% in constant currency. In the IDS Scheer Consulting business, Software AG will remain focused on high-margin projects in the fourth quarter.
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