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Financial News Details

Oracle Reports Q3 GAAP EPS of 10 Cents, non-GAAP EPS of 16 cents, Database New License Sales up 12% to $782 Million

March 22, 2005

Database New License Sales up 12% to $782 Million

REDWOOD SHORES, Calif.,   March 22, 2005 01:30 PM

News Facts

Oracle Corporation (NASDAQ: ORCL) today announced that fiscal 2005 Q3 GAAP earnings per share was $0.10 and non-GAAP earnings per share was $0.16, compared with GAAP and non-GAAP earnings per share of $0.12 last year. GAAP net income for the quarter was $540 million and non-GAAP net income was $814 million, compared with GAAP net income of $635 million and non-GAAP net income of $650 million in Q3 last year. Total GAAP revenues increased 18% to $2.95 billion while total non-GAAP revenues increased 23% to $3.09 billion for the quarter.

Third quarter GAAP total software revenues were up 15% to $2.34 billion while non-GAAP total software revenues were up 23% to $2.48 billion. GAAP services revenues were up 26% to $614 million. GAAP database new license revenues were up 12% to $782 million for the quarter.

"We are extremely pleased that Q3 non-GAAP net income was up 25%, and non-GAAP earnings per share was up 28%," said Safra Catz, Oracle's Co-President and interim CFO. "Given our strong Q3 results and the improved outlook for Q4, we are raising our non-GAAP EPS guidance for the full fiscal year 2005 from $0.62 to $0.64 - $0.65."

"Solid growth in our database business has enabled Oracle to take market share from IBM all year long," said Oracle CEO Larry Ellison. Independent proof of Oracle's gains came when industry analyst firm IDC published that Oracle had increased its market share from 40.3% to 41.3%, while runner-up IBM's database share dropped from 31.8% to 30.6% over the last 12 months. "Oracle's gain in market share highlights the accelerating acceptance of Oracle Database Grids as replacements for IBM mainframes."

"Combining the Oracle and PeopleSoft applications businesses gives us the largest applications business in North America," said Oracle's Co-President Charles Phillips. "Having completed the PeopleSoft deal, we can now sell into an installed base of over 23,000 applications customers worldwide. We intend to aggressively expand our number one position in North America and grow our share globally."

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 www.oracle.com/investor.

"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 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 continue to contribute to a climate of economic and political uncertainty that could adversely affect revenues. Delays in closing of transactions, reductions in size of individual transactions without an offsetting increase in volume, unanticipated fluctuations in currency exchange rates, delays in product delivery, or a decline in our renewal rates for software license updates and product support can cause quarterly revenues and income to fall short of anticipated levels. (2) Oracle recently completed the acquisition of PeopleSoft, Inc. on January 7, 2005, and, in addition to the risks associated with acquisitions generally, Oracle has had little experience integrating and managing a multi-billion dollar acquisition, may have higher than anticipated costs in continuing support and development of acquired PeopleSoft products, may not realize the anticipated increase in revenues if a larger than predicted number of PeopleSoft customers decline to renew software license updates and product support and may not be able to realize its employee retention goals which could adversely impact operations. (3) 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. (4) Oracle continues to introduce new or enhanced versions of its products and services. The market acceptance and contribution to Oracle's revenues of these new versions or products and services cannot be assured. (5) 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. (6) 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. (7) Today we announced that we have entered into a definitive merger agreement to acquire Retek, Inc. We have previously publicly announced our intention to acquire complementary businesses and technologies. Our inability to integrate any such acquisitions quickly and efficiently with our existing business could have a material adverse effect on our business, results of operations, financial condition or cash flows. All information set forth in this release is current as of March 22, 2005. Oracle undertakes no duty to update any statement in light of new information or future events. 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/investor.

Contact Info

Jenny Gelhausen
Oracle Investor Relations
+1.650.506.8057
jenny.gelhausen@oracle.com

Jeff Lettes
Oracle Corporate Communications
+1.650.506.9564
jeff.lettes@oracle.com

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