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SOFTWARE INDUSTRY NEWS |
Oracle reports third quarter financials |
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Oracle Corporation has announced fiscal 2010 third quarter GAAP total revenues up 17% to $6.4 billion. Excluding the impact of Sun Microsystems, Inc., which Oracle acquired on January 26, 2010, total revenue grew 7%.  Oracle said new software license revenues were up 13% to $1.7 billion and up 10% to $1.7 billion excluding Sun. Software license updates and product support revenues were also up 13% to $3.3 billion. Operating income was down 5% to $1.8 billion and operating margin was 29%. The company's net income was down 10% to $1.2 billion and earnings per share were $0.23, down 11% when compared to last year. GAAP operating cash flow on a trailing twelve-month basis was $8.2 billion. Oracle CFO Jeff Epstein said the company's solid top line growth, coupled with disciplined expense management was key in generating $8 billion of free cash flow over the last twelve months. Oracle President, Safra Catz said the integration of Sun was going “even better than we expected,” and believed that it would make a significant contribution to Oracle's fourth quarter earnings per share while helping it meet the profitability goals outlined for next year. Additionally, Oracle’s Board of Directors declared a cash dividend of $0.05 per share of outstanding common stock to be paid to stockholders of record as of the close of business on April 14, 2010, with a payment date of May 5, 2010. Oracle President, Charles Phillips said Exadata was the fastest growing product in Oracle’s history. With barely a years since its introduction, Phillips said the Exadata pipeline is approaching $400 million with Q4 bookings forecast at almost $100 million. “This strengthens both sales growth and profitability in our Sun server and storage businesses,” he said. |
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