http://www.excite.co.uk/news/print/UKInternetReport/IDSFFH30719_2001-09-05_08-07-59_SMI529422
SAP boss says IT industry in recession
FRANKFURT (Reuters) - The information technology industry may already be in
recession and there is no
sign of a turnaround, the chief executive of Europe's biggest software maker
SAP said in an interview.
Hasso Plattner told German business newspaper Handelsblatt that he would not
hazard a guess at when
the upturn may come.
"There is stagnation, perhaps even a recession," he said. "There is a lot of
discussion about whether
the current downturn is V-shaped or U-shaped. I don't believe in miracles --
it could be a pretty wide
U."
Plattner also said his company was sticking to its business targets despite
the downturn and that SAP
was gaining market share as clients switch to more established players.
SAP has beaten analysts' earnings forecasts for three consecutive quarters,
and saw second-quarter
net profit rise 78 percent to 206 million euros (127 million pounds).
But it was forced to revise down its first-half net profit figure by around
90 million euros, to take into
account losses at Commerce One, in which SAP owns a 20 percent stake.
Plattner said a complete takeover of its U.S. affiliate was "always a
theoretical possibility" but he added
that SAP had no plans at present to buy the company, which makes software
that powers online
market places.
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