| Home > Software Developers > SAP America, Inc. > Press Releases |
| |
 |
| |
| SAP America, Inc. |
| |
SAP Announces Availability of Annual Report and U.S. Securities and Exchange Commission Filing on Form 20-F |
| |
Audited Consolidated Financial Statements for 2004 Additional Information Regarding Stock Options Expensing According to SFAS 123R
WALLDORF, Germany - March 22, 2005 - SAP AG (NYSE: SAP) today announced that SAP’s Annual Report to Shareholders for the year ended December 31, 2004 as well as the Company’s Annual Report on Form 20F are available today and can be accessed via the Company’s website at www.sap.com/investor/.
In its Consolidated Financial Statements for the year ended December 31, 2004, the Company provided additional information on the future effects of accounting for stock based compensation under the new U.S. GAAP pronouncement “Statement of Financial Accounting Standards No. 123 (revised 2004) ‘Share-Based Payment’” (“SFAS 123R”). SAP currently applies the intrinsic-value-based method prescribed by Accounting Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees," ("APB 25") and related interpretations. SAP will adopt SFAS 123R in the third quarter of 2005 and expects this adoption to result in additional compensation expense in the Company’s Consolidated Financial Statements. SAP is currently determining the effect of SFAS 123R on the Company’s Consolidated Financial Statements. If SAP’s stock price, the Goldman Sachs Software Index and the US Dollar to Euro exchange rate remained unchanged in 2005 from the respective values at December 31, 2004, based on the stock based compensation awards issued and outstanding as of December 31, 2004 and the additional awards approved for grants as of March 1, 2005, SAP expects the adoption of SFAS 123R on July 1, 2005 to result in approximately €70 million of additional compensation expense in the second half of 2005 compared to what would be expensed under APB 25.
The adoption of SFAS 123R has no impact on the Company’s previously published guidance for pro forma operating margins and pro forma earnings per share.
About SAP
SAP is the world’s leading provider of business software solutions*. Today, more than 26,150 customers in over 120 countries run more than 88,700 installations of SAP® software—from distinct solutions addressing the needs of small and midsize businesses to enterprise-scale suite solutions for global organizations. Powered by the SAP NetWeaver™ platform to drive innovation and enable business change, mySAP™ Business Suite solutions are helping enterprises around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP industry solutions support the unique business processes of more than 25 industry segments, including high tech, retail, public sector and financial services. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” |
| |
|
|
