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

To: Still Rolling who wrote (15767)	5/17/2001 6:14:54 AM
From: Rob C.	Respond to of 19079

SYDNEY, May 17 (Reuters) - Oracle Corp, the world's number two software group, said on Thursday it was sticking to its targets for flat fourth quarter earnings, but tipped demand would begin to bounce back by the end of 2001. Chief financial officer Jeff Henley said the group's result would reflect the subdued U.S. economy, but it was tricky to judge how many deals currently in the pipeline would be converted into sales by the end of the quarter. "We haven't changed that (target) and expect to keep reminding people there's risk, more risk than normal, so it's by no means certain. It may be less, we just don't know, but we're still going to try to achieve 15 cents," Henley told reporters in Sydney. Consensus estimates currently centre on 15 cents earnings per share for Q4, according to IBES, but some analysts have suggested Oracle's fourth quarter estimates are overly aggressive and would be scaled back. The Redwood Shores, California-based group has been subjected to a round of earnings downgrades in recent months after posting third quarter earnings of US$583 million or 10 cents a share. The software giant traditionally generates around a third of its total sales in the fourth quarter of the year. Henley said the group has factored slowing European sales in to its estimates, but still expected the company's performance to remain subdued for some time to come. "For the next couple of quarters our performance won't be as good probably, relative to how we've done in the last couple of years," Henley said. Shares in Oracle, which have oscillated between US$13.00 and US$46.47 over the year, closed Wednesday's New York session up 47 cents at US$16.40. Asked if he was committed to remaining with the company, Henley replied: "Oh sure, I've been at Oracle for 10-years and I'm still having fun. As long as they'll keep me and want me I suppose I'll be round a while." REUTERS Rtr 05:22 05-17-01 Copyright 2001, Reuters News Service Copyright © 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. or such other notice as may be agreed by the parties in writing.