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Financial News Details

Oracle Corporation Reports Profits Up 36 Percent in Record Third Quarter

March 11, 1999

Net Income Up 28% to $440 Million, Operating Cash Flow Increases to $1.25 Billion

Redwood Shores, Calif., September 12, 2003—

Today, Oracle Corporation announced that first quarter net income was up 28% to $440 million while revenues were up 2% to $2.1 billion as compared to the first quarter last year. Earnings per share was $0.08 compared with $0.06 last year, which included a one cent impairment charge relating to Oracle’s investment in Liberate.

New software license sales were down 7% to $525 million while software license updates and product support were up 14% to $1,034 million. First quarter operating margin was 30% versus 29% last year.

“Once again, the quarter showed positive growth in total revenues, and we expect to see continued improvement in total revenue and new license growth in Q2 led by North America. In addition, Oracle generated over $1.25 billion in cash as our profitability continues to hit record levels,” said Oracle CFO Jeff Henley.

“We’re all very excited about the announcement of the next version of our database and application server called Oracle 10g,” said Oracle CEO Larry Ellison. “Oracle 10g is the first database designed to run on a grid of 64 to 128 low-cost Linux Intel servers. An Oracle 10g enterprise grid runs more than 10 times faster than the largest server. That means every existing Oracle application – SAP, PeopleSoft, Siebel, custom systems – will run faster and more reliably on an Oracle 10g enterprise grid. But if you want to run on an Oracle grid of Lintel servers – you have to be willing to spend less.”

Oracle is the world’s largest enterprise software company. For more information about Oracle, including supplemental financial information, please call Investor Relations at (650) 506-4073 or visit Oracle on the web at:

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: Information in this release relating to Oracle's future prospects which are "forward-looking statements" are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not necessarily limited to, the following: (1) Economic, political and market conditions could continue to adversely affect purchasing decisions for computer software and services throughout the world. The war on terrorism and the potential for other hostilities in various parts of the world continues to contribute to a climate of uncertainty that could adversely affect revenues. Delays in closing of sales, reductions in size of individual sales without an offsetting increase in volume or delays in product delivery can cause quarterly revenues and income to fall significantly short of anticipated levels. (2) Management's ability to forecast revenues and control expenses, especially on a quarterly basis, continues to be a challenge. An unexpected decline in revenues without a corresponding and timely slowdown in expense growth could have a material adverse effect on results of operations. (3) Oracle is continuing to introduce new or enhanced versions of its products and services, such as Oracle Database 10g, Oracle Application Server 10g, Oracle E-Business Suite, Oracle Collaboration Suite and Outsourcing; the market acceptance and contribution to Oracle's revenues of these new versions or products and services cannot be assured. (4) Oracle periodically has made changes to its pricing model and sales organization, which could lead to a decline or delay in sales as its sales force and customers adjust to the new pricing policies and organizational changes. Intense competition in the various markets in which Oracle competes may also put pressure on Oracle to reduce prices on certain products. (5) The market for Oracle's products is intensely competitive and is characterized by rapid technological advances and frequent new product introductions. There can be no assurances that Oracle will continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance. Oracle undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Oracle's business, please refer to the "Risk Factors" section of Oracle Corporation's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10- Q, copies of which may be obtained by contacting

Oracle Corporation's Investor Relations Department at
(650) 506-4073 or
Oracle's Investor Relations website at

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