Frankfurt- The world's biggest business management software maker SAP AG said Wednesday that falling revenue, the global economic downturn and the high restructuring costs resulted in first-quarter net profit falling 16 per cent to 204 million euros (269 million dollars). While the German-based group confirmed its outlook for the current year, its shares dropped 2.9 per cent to 29.30 euros following the release of the results.

SAP said that due to the continued the economic and business uncertainty it would not provide a specific outlook for software and software-related service revenues for 2009.

"While visibility for software revenues remains limited, we continue to take the necessary steps to protect our margin in this tough operating environment," SAP co-chief executive Leo Apotheker said.

Total revenues for were down 3 per cent to 2.397 billion euros compared to the same period last year, with the group incurring 160 million euros in restructuring charges as a result of job cuts in the first quarter.

SAP said first-quarter software revenue was down 33 percent at 418 million euros. (dpa)