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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (1189)	9/17/2002 5:02:29 PM
From: Lost1	Read Replies (2) \| Respond to of 57110

Oracle's Earnings Fall; Revenues Light Tue Sep 17, 4:36 PM ET REDWOOD SHORES, Calif. (Reuters) - Oracle Corp. , the world's second-biggest software company, on Tuesday posted a lower first-quarter profit as declining new software sales contributed to lighter-than-expected revenue. The results sent Oracle shares, which closed on Tuesday at $9.03 on Nasdaq, to just under $8.40 in after-hours trade on Instinet. Redwood Shores, California-based Oracle said earnings -- excluding a charge related to its investment in company spin-off Liberate Technologies -- fell to $386 million, or 7 cents a share, for its fiscal quarter ended Aug. 31. The company's net income was $343 million, or 6 cents a share, compared with its net profit of $511 million, or 9 cents a share, a year ago. Total revenue fell to $2.03 billion from $2.27 billion, missing analysts average forecast of $2.06 billion, as compiled by Wall Street tracking firm Thomson First Call. New software license sales, a key measure of performance, fell 23 percent to $549 million. Oracle in June forecast quarterly earnings of about 7 cents a share, and said year-on-year software sales could be down 15 percent to 25 percent. Nearly three dozen analysts had expected the company to post a profit of 6 cents to 8 cents a share, with an average forecast of 7 cents, according to First Call.