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March 14, 1997updated 05 Sep 2016 12:56pm

ORACLE THIRD QUARTER ON THE MONEY

By CBR Staff Writer

In spite of the skepticism that surrounded Oracle’s Corp’s third-quarter performance, the company reported results that fell only just shy of analysts’ expectations. Net income for the quarter rose 15.7% to $169.3m on revenue that increased 35% to $1.37bn. Earnings per share for the quarter were $0.25, compared to $0.22 for the same period a year ago. Excluding a one-time, $36.8m charge related to the acquisition of Datalogix International Inc in January, earnings per share would have been $0.29, or exactly what First Call’s average of 30 analysts called for. Revenue growth was fairly evenly distributed among all of Oracle’s geographic regions, despite a 4% negative currency translation during the quarter. Oracle Americas reported revenue up 40%, Asia Pacific saw a 32% growth and even Oracle’s troubled Europe, Middle East and Africa (EMEA) territory turned in an increase of 28%, despite widespread trepidation about its continued weakness that led Oracle shares to lose more than $3 (8%) in one day’s trading last week. Wall Street changed its tune yesterday with Oracle closing the day up $2 at $36.13 and further surging after the bell to $37.75. Net income for the nine months ended February 28 was up 37% at $461.5m on revenue up 35.4% at $3.74bn. Earnings per share for the year-to-date increased 36% to $0.68. Oracle closed strategic deals in the third quarter with a variety of big names including Bank of America, Fruit of the Loom, Helena Chemical, Kaiser Permanente, New York Life, Sony India and SunAmerica Financial.

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