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Financial News Details

Oracle Announces Preliminary Third Quarter Earnings Results

March 1, 2002

Oracle earnings per share expected to be $0.09

REDWOOD SHORES, Calif. 01-MAR-2002 12:00 AM Today, Oracle Corporation announced estimated earnings for its fiscal their quarter ended February 28, 2002.

"Based on preliminary estimates, it appears that our third quarter year-over-year growth rates for software sales and operating income were about the same as those for the second quarter," said Oracle CFO Jeff Henley. "This should result in Q3 EPS of 9 cents per share, or one cent lower than last year's third quarter."

"While software sales in the United States and Europe increased slightly over the second quarter, that increase was not enough to offset a slowdown in Asia," said Oracle CEO Larry Ellison. "As companies become more confident in the economy, we expect that capital spending will increase and our business will improve - first in the US and then around the world."

Oracle will announce its final financial results on March 14, 2002, at which time more complete commentary will be provided.

Oracle is the world's largest enterprise software company. For more information about Oracle, please call Investor Relations at (650) 506-4073 or visit Oracle on the web at http://www.oracle.com.

"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) Management's ability to forecast revenues and control expenses, especially on a quarterly basis, continues to be a challenge. The economic, political and other uncertainties caused (or exacerbated) by recent terrorist attacks upon the United States add to this challenge. An unexpected decline in the growth rate of revenues without a corresponding and timely slowdown in expense growth could have a material adverse effect on results of operations. (2) 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. (3) Delays in product delivery or closing of sales can cause quarterly revenues and income to fall significantly short of anticipated levels. (4) Oracle is introducing new products, such as Oracle 9i database and 9i application server, internet procurement and supply chain management software, customer relationship management applications and application hosting services; the market acceptance and contribution to Oracle's revenues of these products cannot be assured. (5) Oracle has recently made changes to its pricing model which could lead to a decline or delay in sales as its sales force and customers adjust to the new pricing policies. Intense competition in the various markets in which Oracle competes may also put pressure on Oracle to reduce prices on certain products. 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 http://www.oracle.com.

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