Rebounding from a disappointing second quarter, SAP AG today posted a 16% increase in net income on a 17% gain in software revenues, with double-digit growth rates reported in each of its three major geographic regions.

SAP said that software revenue rose to €691 million from €590 million posted in the comparable period last year. In the second quarter of this year ended June 30, SAP had surprised the market with an anemic 8% increase in software revenues, although SAP executives said at the time that the shortfall was due to booked orders that were not finalized.

The numbers reported today appeared to put SAP back on its recent strong growth track, which, prior to the second quarter, showed a dozen quarters of double-digit performance.

"In a nutshell, our organic growth strategy has enabled us to win," said Henning Kagermann, SAP chairman and CEO, during a conference call with financial analysts.

Total revenues for the third quarter ended September 30 rose 11% to €2.2 billion, from €2 billion in the like period last year. Total product revenue, which includes the €691 million in software license revenue as well as €884 million in maintenance revenue -- up 10% from last year's third quarter -- grew 13% to €1.5 billion. Consulting, service, and training revenues each climbed 8% from the comparable quarter.

Net income jumped 16% to €388 million, from €344 million. Earnings per share rose more than 17% to €1.27.

Software revenues in SAP's Americas region grew 19% to €292 million, with the U.S. market reporting a 15% increase in license revenue to €228 million. In its Europe, Middle East, and Africa region, SAP's software revenues rose 14% to €301 million, while in the Asia-Pacific region the numbers climbed 22% to €98 million.

During the conference call, Leo Apotheker, president of SAP Field Operations, said that SAP won 85% of the 247 deals it competed for during the quarter. He made a point of challenging a statement last month by SAP's chief rival, Oracle Corp., that it had bested SAP in 88 deals.

Apotheker said that Oracle's claim was incorrect. He said that SAP only lost four of those deals. Moreover, he said that of the 88, Oracle only identified 13 companies by name. In a number of those 88 deals, he said, either SAP did not compete, or they were simply non-competitive.

Apotheker also said SAP has garnered 400 companies so far under its Safe Passage program, which offers Oracle users a way to come into the SAP fold. He said 90 had opted for SAP during the third quarter.