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Wednesday, October 26, 2011

SAP books big bump in Q3 software revenue

Earnings and more earnings are dominating the news early.

SAP AG, the German software company with U.S. headquarters in Newtown Square, said total revenue for its Q3 rose 14 percent to 3.41 billion euros (or $4.75 billion). After-tax profit rose 150 percent to 1.25 billion euros ($1.74 billion), or 1.05 euros ($1.46) per share, from 500 million euros ($696 million), or 0.42 euros (59 cents) per share.

SAP co-CEO Bill McDermott said that software revenue in the 3rd quarter grew at the fastest rate in a decade.

Wayne-based Safeguard Scientifics, which invests and helps manage life-sciences and information technology companies, reported Q3 net income of $22.3 million, or 98 cents per share, up from $596,000, or 3 cents per share. That heftier profit came largely from a $35.4 million gain from the sale of one of its partner companies, Portico Systems, to drug wholesaler McKesson.

Boeing Co., which makes Chinook helicopters in Delaware County, reported a 4 percent rise in Q3 revenues, but a 30 percent increase in earnings per share. The defense contractor had $17.7 billion in quarterly revenue. Net income was $1.1 billion, or $1.46 per share.

Another defense contractor with major operations in the region also reported solid results. Lockheed Martin said Q3 net sales rose 7 percent to $12.1 billion. Net earnings of $700 million, or $2.10 per share, were up from last year's $560 million, or $1.54 per share.
Posted by Mike Armstrong @ 8:40 AM  Permalink | Post a comment
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About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor. Contact Mike via e-mail or at 215-854-2980
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