January 29, 2013 / 10:48 AM / 5 years ago

Software AG sees drop in 2013 earnings

FRANKFURT, Jan 29 (Reuters) - Germany’ second-largest software group Software AG said on Tuesday it expected 2013 earnings per share to be between 1.70-1.80 euros ($2.29-$2.42), down from 1.90 euros in 2012.

That is well below average analyst expectations of 2.11 euros, in a Reuters poll, with individual estimates ranging from 1.95-2.24 euros.

Software AG’s fourth-quarter revenue and operating profit missed expectations, burdened by costs related to the sale of a unit and higher investments. ($1 = 0.7429 euros) (Reporting by Harro ten Wolde)

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