PSFT - 1999: The "Make-It-or-Break-It" Year? Message Board

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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year?

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Oct 29 5:00 PM EST

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To: Freeflight who wrote (1213)	1/22/2003 10:12:39 PM
From: SemiBull	Read Replies (1) of 1274

PeopleSoft Sees Modest Seasonal Slowdown in 1st Quarter Wednesday January 22, 7:23 pm ET By Marcelo Prince NEW YORK -- PeopleSoft Inc. (NasdaqNM:PSFT - News) executives said economic conditions remain challenging and corporate spending will likely be flat in 2003, but they also sounded upbeat about the outlook for the software company in the new year. On a teleconference with analysts Wednesday after reporting better-than- expected fourth-quarter results, PeopleSoft Chief Executive Craig Conway said " upward market factors are greater than downward market factors." Pricing and competition remains intense and deals still take longer than usual to consummate. But companies are no longer cutting back planned expenditures and PeopleSoft has a large pipeline of potential sales. "There is not a sense of deceleration any more," Mr. Conway said. "Projects and investment seem to be known and planned, though difficult to get through." PeopleSoft executives declined to provide full-year financial targets, saying they preferred to wait until after the current quarter. However, they predicted the company, whose revenue fell 8% to $1.95 billion in 2002, would return to growth for the year. For the current quarter, PeopleSoft expects a "normal modest" seasonal slowdown. It is targeting license revenue between $125 million and $135 million and earnings of 13 cents or 14 cents a share. -Marcelo Prince; Dow Jones Newswires; 201-938-5244; marcelo.prince@dowjones.com

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