Business applications market leader SAP reported a 43% drop in net income for its first quarter ended March 31, despite a 10% increase in revenue. In a separate announcement, SAP also said that Kevin McKay, head of SAP's U.S. operations, has resigned for personal reasons.
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were better than expected, SAP remains profitable, and it is unrealistic to expect the spectacular growth of past years for the company of that size. However, it is worthwhile analyzing the reasons that SAP cited for its poor showing. First, the cost of the Star share option program, which had been previously anticipated. Fine, we will go along with this one. Second, chief executive Henning Kagermann said competition for web-based products, particularly in the US, had been fierce. The truth is that SAP