aj here is a perfect example where a CEO can boldly lie and be protected by law from prosecution--here Ellison is merely just expressing his opinion and he is ALLOWED to do that without a thread of evidence and in stark contradiction of the present facts--which is declining growth.
I find this press release insulting to one's intelligance,and typical of Ellison BS.
Jun 18 7:21pm ET
NEW YORK (Reuters) - The Chief Executive of Oracle Corp. on Monday said he saw long-term growth of the company's database software business of between 15 percent and 20 percent.
Larry Ellison, speaking on the firm's fourth quarter analyst conference call, said he also saw the company's software applications business growing between 50 percent and 100 percent in the long term.
"I see no reason why we can't get back to 50 to 100 growth in the applications business," Ellison said in response to a question about long-term outlook from one of the analysts.
After the close of the markets on Monday, the Redwood Shores, California-based software giant said it posted fiscal fourth-quarter net income of $855 million, or 15 cents a share, down from $925.9 million, or 15 cents a share the prior year. Revenues were down 3.2 percent to $3.26 billion from $3.37 billion a year ago.
Analysts, on average, had expected Oracle to earn 14 cents a share on sales of $3.4 billion, according to Thomson Financial/First Call.
Oracle's fourth quarter software license revenue -- which is broken down into database and software applications sales -- growth was down 10 percent from the prior year. Database sales were down 1 percent, while applications were down 9 percent, the company said. |
