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February 1, 2010

Software AG Q4 revenues up 38% to €292.1m

Expects total revenue growth of 25-30% for FY 2010

By CBR Staff Writer

Software AG has reported total revenue of €292.1m for the fourth quarter of 2009, an increase of 38% compared to €212.4m for the same period last year.

Product revenue was up by 11% to €181.1m from €163.2m, services and consulting revenue increased 130% to €109m from €47.3m due to the contribution of IDS Scheer whose results are being consolidated for a full quarter.

In addition, webMethods license revenue up by 21% to €43.5m from €35.8m; total business line revenue was up by 8% to €98.9m from €91.4m, while ETS product revenue was €87.7, compared to €101.2m for the same period last year.

For full year 2009, the company posted total revenues of €847.4m, an increase of 18% compared to €720.6m in 2008. EBIT rose by 21% to €218.2m, compared to €180.5m for the same period last year while EBIT margin increased to 25.8% from 25.1%.

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The company posted a net income of €140.8m in 2009, compared to €115.9m for the same period last year. Earnings per share rose to €4.92 from €4.05.

Karl-Heinz Streibich, CEO of Software AG, said: “We reported record numbers again in 2009. The acquisition of IDS Scheer will help us build a leadership position for Business Process Excellence software. In the fourth quarter we closed an increased number of large deals. We are seeing the first signs of an economic recovery. Software AG is an excellent position to benefit from this development.”

Software AG forecasts total revenue growth of 25-30% with product revenue growth of 12-15% for fiscal year 2010, at constant currency rates. The company also forecasts growth in net income of 8-12%.

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