SAP will not meet sales expectations

In an ominous sign that the global financial crisis is already making its impact felt across the IT industry, SAP said on Monday that it would not be able to meet revenue expectations for the third quarter. The reason stems from a drop in orders attributed to the ongoing crisis, resulting in SAP expecting worldwide software revenue of between $1.02 billion and $1.04 billion. While those numbers represents an increase of between 4 and 5 percent from this time last year, they fall well short of the 20 percent increase initially forecast by analysts. The news caused shares of SAP to drop dramatically, by more than 13 percent.

For more on SAP:
- check out this InformationWeek article