Software AG Sees Record Earnings

Software AG, the German systems software vendor, yesterday said it achieved record increases in its sales and earnings for the 1999 fiscal year, according to preliminary figures.

Pre-tax profit rose 48 percent over the same period the previous year to 129 million marks (US$67 million), the company said in a statement. Net profit rose 14 percent compared to fiscal 1998, totaling 713 million marks.

These are the best annual results in the firm's history, the company said.

Software AG plans to publish a more detailed financial report on Feb. 18.

The company will also later today announce a new framework based on XML (Extensible Markup Language), a specification for formatting data on Web pages. One of the company's products is Tamino, a database that natively works in XML.

Software AG, in Darmstadt, can be reached at +49-6151-92-0 or on the World Wide Web at http://www.softwareag.com/.

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