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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year? -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1250)	9/4/2003 9:00:34 PM
From: SemiBull	Read Replies (1) \| Respond to of 1274

PeopleSoft Announces $350 M Stock Buyback Program Thursday September 4, 5:54 pm ET PLEASANTON, Calif. -(Dow Jones)- Software firm PeopleSoft Inc. (NasdaqNM:PSFT - News) plans to repurchase up to $350 million of its common shares. Based on Thursday's closing price of $19.35, the company would buy back about 18.1 million shares. PeopleSoft currently has about 364.1 million shares outstanding. The announcement came as Chief Financial Officer Kevin Parker told analysts he expects the newly combined company, following the acquisition of J.D. Edwards & Co., to earn between 52 and 55 cents a share this year on a pro forma basis, based on revenue of $2.15 billion. For 2004, Parker said PeopleSoft expects revenue between $2.8 billion and $2.9 billion, with pro forma earnings between 90 and 95 cents a share. -Gregg Henglein; Dow Jones Newswires; 201-938-5400