Oracle CFO says visibility still poor
REDWOOD SHORES, Calif., July 10 (Reuters) - Oracle Corp.'s
<ORCL.O> Chief Financial Officer told analysts on Wednesday
that it is still very difficult to predict demand for the
software giant's products, but added that he believed that the
worst is over.
"It feels like it's (business) stabilized," Jeff Henley
told analysts at Oracle's analyst day at the company's
headquarters here. But at the same time, "I don't get any sense
that it's getting better," he said.
"It doesn't feel like it's getting worse, but I made the
same statement six months ago and it still got worse," Henley
said. "The visibility is still poor. I have no better feel than
I did three months ago, (or) six months ago."
Henley also displayed a slide at the meeting, which was the
same financial guidance he gave when the No. 2 software maker
reported results in June. That guidance was for software sales
in Oracle's current fiscal first quarter could fall 15 percent
to 25 percent and for earnings per share of 7 cents.
Oracle, which grew rapidly during the dot-com boom, has
fallen on rough times, along with the entire technology sector
as economies cooled and the dot-com bubble burst.
((--Duncan Martell, San Francisco bureau, 415 677-2536,
duncan.martell@reuters.com))
REUTERS
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