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Welcome Who is here tonight? Q1 roundup of software companies Q1 2002 vs Q1 2001 revenue growth in brackets Sage (+20%). “We remain cautiously optimistic about the rest of the financial year despite the continuing challenging market conditions” Microsoft (+13%). “A small rise expected in PC sales”, and there are “modest expectations for enterprise market” SAP (+9%). Sticking to its full year forecast of 15% growth (brave!), even though “conditions for software purchases remain challenging Computer Associates (+6%). Full year forecast of 8% growth IBM Software (-1%). “It is clear that the i