| | ORACLE REPORTS Q1 GAAP EPS UP 28% TO 13 CENTS, NON-GAAP EPS UP 24% TO 18 CENTS
Applications New License Revenues Up 80%, Database and Middleware New License Revenues Up 15%
REDWOOD SHORES, Calif., 19-SEP-2006 Oracle Corporation (NASDAQ-GS: ORCL) today announced fiscal 2007 Q1 GAAP earnings per share were up 28% to $0.13, compared to the same quarter last year. First quarter total GAAP revenues were up 30% to $3.6 billion, while quarterly GAAP net income was up 29% to $670 million. Total GAAP software revenues were up 29% to $2.7 billion with database and middleware new license revenues up 15% and applications new license revenues up 80%. Services revenues were up 33% to $846 million, compared to the same quarter last year.
First quarter non-GAAP earnings per share were up 24% to $0.18, and non-GAAP net income was up 26% to $931 million, compared to the same quarter last year.
"We reported record revenues and earnings for the first quarter," said Oracle President and CFO, Safra Catz. "We exceeded our guidance on every metric and delivered strong revenue growth across all product lines and geographies. We are now in year three of our five year plan targeting EPS growth at 20% per year. We continue to deliver results comfortably ahead of target."
"We're rapidly taking applications market share from SAP," said Oracle President, Charles Phillips. "Q1 was the second consecutive quarter that Oracle's applications new license sales growth was 80% or more. That's ten times SAP's 8% new license sales growth rate in their most recently completed quarter."
"SAP appears to be rethinking their strategy as they lose application market share to Oracle and confront the difficulties of moving their application software to a modern Service Oriented Architecture (SOA)," said CEO, Larry Ellison. "They've just announced that they are delaying the next version of SAP applications until 2010. That's a full two years behind Oracle's scheduled delivery of our SOA Fusion applications. And now Kagermann is talking about an acquisition strategy to augment SAP's slowing organic growth. These are major changes in direction for SAP."
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