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Technology Stocks : Oracle Corporation (ORCL)

ORCL 248.15

-3.8%

3:59 PM EST

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To: JakeStraw who wrote (18892)	9/20/2007 4:23:01 PM
From: Sonki	Read Replies (2) of 19079

Oracle's applications new license sales grew 65% Oracle Q1 Profit Rises - Quick Facts 2 (RTTNews) - Oracle Corp. (ORCL) reported first quarter net income of $840 million or $0.16 per share, compared to $670 million or $0.13 per share in the same quarter last year. On an adjusted basis, the company's net income would have been $1.17 billion or $0.22 per share, compared to $931 million or $0.18 per share in the corresponding quarter a year-ago. On average, 26 analysts polled by First Call/Thomson Financial expected earnings of $0.21 per share for the first quarter. Total revenues for the quarter rose to $4.53 billion from $3.59 billion in the comparable quarter a year-ago. Adjusted revenues came in at about $4.6 billion, in comparison with $3.66 billion in the year-ago period. Twenty-seven Wall Street analysts' consensus revenue estimate came in at $4.34 billion. Oracle CFO, Safra CatzWe, said, "Reported new software license revenues up 35%, the strongest growth of any quarter in ten years and that software sales growth is translating nicely into EPS growth." The company said it continue to take applications market share from SAP. In the first quarter, Oracle's applications new license sales grew 65% compared to SAP's new license sales growth rate of 18% in their most recently completed quarter. The company believes that if it continue to grow its middleware software business at the current rate, Oracle would challenge IBM (IBM) for the number one position in middleware by the end of this year.

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