SAP quarterly earnings up

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Berlin--German software maker SAP AG posted higher fourth-quarter earnings Thursday and gave an upbeat outlook for 2003 despite market uncertainties. Earnings in the fourth quarter totaled $507 million, compared with $342 million a year earlier. However, revenue fell slightly to $2.40 billion, from $2.47 billion. Full-year earnings were $544 million, down from $625 million in 2001. Revenue for the year rose to $7.93 billion from $7.9 billion, reflecting stronger maintenance and consulting revenues. The company said it expects to improve profitability in 2003, in part through tight cost controls, even though the market for its products is ailing.
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