LONDON May 2 German business software maker
Software AG on Friday reported a 27 percent fall in
its first-quarter operating profit as investments weighed on its
Earnings before interest and tax (EBIT) dropped to 30.5
million euros ($42.3 million), while sales fell 7 percent to
208.9 million. That was below average analyst expectations of
29.6 million euros and 221 million euros, respectively.
Germany's second-largest business software maker after SAP
said it still expected operating profit to rise
between 2 and 7 percent in 2014.
($1 = 0.7212 Euros)
(Reporting by Harro ten Wolde; Editing by Ludwig Burger)