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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (11054)	6/15/1999 4:24:00 PM
From: alydar	Respond to of 19079

Oracle 4th-Qtr Earnings at 36C a Shr: Earnings Instant Insight Redwood Shores, California, June 15 (Bloomberg) -- The following is a summary of Oracle Corp.'s fiscal fourth-quarter earnings. Expected Market Reaction: Rise. Oracle's net income was $527 million, or 36 cents a share, for the period ended May 31, from a profit of $402.8 million, or 27 cents a diluted share, in the year-ago quarter. The No. 1 database software maker was expected to report per- share earnings of 32 cents, the average forecast of analysts polled by First Call Corp. Estimates ranged from 35 to 29 cents and the ''whisper'' estimate was 32 cents. Some analysts had lowered their earnings estimates around May 13. The original average estimate for the quarter had been 33 cents. The year-ago results account for a 3-for-2 stock split on Feb. 26. Behind the Numbers Revenue rose to $2.9 billion from $2.4 billion. Revenue was expected to be $2.6 billion to $2.9 billion, according to a survey of four analysts. Analysts had been expecting a slowdown in sales of Oracle's flagship database software and application programs because corporations are delaying software purchases to fix their Year 2000 computer glitches. Oracle's mainstay database software often is sold when corporations buy the company's applications software. What the Experts Say ''The real question with Oracle this quarter is not the earnings, it's the revenue,'' said Gary Abbott, an analyst at Punk Ziegel & Co., who rates the stock ''market performer.'' Previous Market Reaction Oracle shares tumbled 23 percent on March 12 after its fiscal third-quarter revenue lagged some analysts' estimates. Investors were concerned that sales growth wouldn't pick up any time soon. That prospect dragged other tech stocks lower. Market Performance Oracle's shares have fallen 32 percent during the quarter ended May 31 amid concern about slowing revenue, both in database and applications software as well as total revenue overall. The results were released after the close of U.S. trading. Jun/15/ 99 16:12 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.