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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (12218)	10/13/1999 9:53:00 AM
From: Bipin Prasad	Read Replies (1) \| Respond to of 19080

Yeap, somebody is eating SAP's lunch. Who else could that be but ORCL! from wsj: SAP Lowers 1999 Sales Forecast Following Examination of Results Dow Jones Newswires FRANKFURT -- German software maker SAP AG said Wednesday it has lowered its 1999 sales forecast to between 15% and 20% growth compared with last year from earlier estimates of a 20% to 25% rise. The revision follows a preliminary analysis of third-quarter results, the company said. "SAP's board anticipates that despite an increase in third-quarter revenues of about 7%, an increase in revenues of between 15% and 20% can still be achieved," the company said. "This analysis is chiefly based on the continuously strong fourth-quarter sales pipeline and the increasingly positive response among customers to the Internet product my.sap.com." The company's 1998 sales were 8.47 billion marks ($4.67 billion or 4.33 billion euros) SAP, whose key product is business-integration software, also said it isn't maintaining its forecast for a rise in the pretax profit margin of up to 1% in 1999, as previously expected. The margin will depend on software revenues in the fourth quarter, SAP said. In 1998, the pretax profit margin was 21.6%. More information on earnings will be provided at a press conference Oct. 20, SAP said.