Following the restatement of its second, third and fourth quarter figures Oracle Corp is, as analysts thought it might (CI No 1,500), to report the first quarterly loss in its history for its first quarter ending August 31. It says that revenues will be up 30% but that the company had planned for a revenue growth rate of 50%. Consequently, it expects to shed approximately $0.20 per share and is implementing a restructuring and cost-cutting programme. Future revenue targets have now been set at 25% growth which Oracle says will yield a 25% growth in profits. It expects to return to profitability in the next quarter.
