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SAP is vowing to oppose the $1.3 billion jury verdict in Oracle's software copyright infringement lawsuit against the company. Nevertheless, SAP took a charge of 980 Euros ($1.34 billion) against earnings for fiscal 2010 to cover the judgment.
"SAP intends to file post-trial motions in the coming weeks asking the court to reduce the amount of damages awarded or to order a new trial," the company said Wednesday in a statement accompanying its earnings results for the fiscal 2010 fourth quarter and full year. "Depending on the outcome of the post-trial motion process, SAP may consider an appeal."
For the fourth quarter ended Dec. 31 SAP reported sales of 4.06 billion Euros ($5.55 billion), up 27 percent from 3.19 billion Euros ($4.36 billion) in the fourth quarter of 2009. That included a 35 percent increase in software sales to 1.51 billion Euros ($2.06 billion), due in part to the company's July acquisition of infrastructure software vendor Sybase.
SAP reported an after-tax profit of 437 Euros ($597.6 million) for the fourth quarter, down 36 percent from one year earlier because of the charge for the Oracle litigation.
In November a jury ordered SAP to pay Oracle $1.3 billion in damages following a three-week trial in U.S. District Court jury in Oakland. Oracle had sued SAP charging that SAP's now-shuttered TomorrowNow services subsidiary illegally downloaded software and support documents from Oracle Web sites.
NEXT: Financial Fallout From The Oracle Lawsuit
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