German database software developer Software AG has reported a net profit for the first nine months of the year up 24% at DM48.2m ($24.9m) on revenue that rose 14% to DM504.2m ($260.8m). Pre-tax profit rose 48% to DM86.3m ($44.6m). Earnings per share calculated according to German accounting rules rose 31% compared to the same period last year, to DM1.74 ($0.90).
The difference between growth in pre-tax and net was explained by a higher tax rate this year, the company having largely used up its tax loss carry forward from earlier year. The Darmstadt-based company said all three of its business areas (licenses, professional services and maintenance) were up during the period, with license revenue being the strongest of the three, growing 21% to DM153.7m ($79.4m). Professional services were up 15%, at DM176.4m ($91.2m), while maintenance was up 9% at DM171.6m ($88.7m).
