SAS registers 4% revenue growth in 2002

SAS Institute Inc, the world's largest privately held software company, grew its revenues by 4.4% to $1.18bn for its 2002 fiscal year. The Cary, North Carolina based developer of business intelligence (BI) and analytics software said the results represent the 26th consecutive year of revenue growth, albeit modest, for the company.

Profits for the year, though not publicly disclosed, dropped slightly, according to CEO Jim Goodnight; which he attributed to costs incurred due to increased hiring – specifically to beef-up SAS’ direct sales channel.

Just under 50% of revenues originated from North America, with 42% from EMEA and 9% from the Asia-Pacific region. Reflecting SAS’ shift from selling tools to solutions, its packaged analytic applications business grew 16% over the year. In terms of application area, CRM once again led the way with over $200m of revenue coming from software sales relating to customer intelligence. Additionally, SAS also experienced significant growth in the financial services/banking sector (up 25%) and insurance (up 7%) sectors.

Goodnight optimistically expects to return double digit growth in 2003. SAS says that its early performance in 2003 is equally positive – claiming to be over 11% ahead of revenue target for the year-to-date compared to the same period in 2002.

The latest set of figures make SAS the fifth largest independent software company in the world by software license revenue.

Source: Computerwire

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