Feeds

PeopleSoft blames Oracle for losses

A bigger boy did it and ran away

  • alert
  • submit to reddit

Boost IT visibility and business value

PeopleSoft has warned that sales for the second quarter are worse than predicted and lost no time in blaming Oracle for the fall. Shares in the enterprise software vendor fell more than 10 per cent in before-hours trading.

Peoplesoft now expects to post revenue of between $655m and $665m rather than the expected $675m for the three months ended 30 June.

Profits are likely to between 13 and 14 cents per share, against expected profits of 21 cents per share. Craig Conway, president and chief executive of PeopleSoft, pointed the finger at Oracle: "Although we have been able to meet or exceed our financial projections since Oracle launched their hostile tender offer more than a year ago, the extensive publicity of the antitrust trial during the last month of our quarter was impossible to completely overcome."

He said the impact of the attempted takeover by Oracle had been particularly strong in the last month, and he is looking forward to returning to normal business and recovering the losses.

In the statement Conway also mentioned the recent case brought by the US Department of Justice to block the Oracle takeover: "We believe that evidence submitted in the United States of America v. Oracle trial clearly displayed Oracle's intent to disrupt our business and damage PeopleSoft."

PeopleSoft will post its final results for the second quarter on 27 July. ®

Related stories

Ellison takes the stand
US gov and Oracle in court
Oracle slashes PeopleSoft offer

5 things you didn’t know about cloud backup

More from The Register

next story
Why has the web gone to hell? Market chaos and HUMAN NATURE
Tim Berners-Lee isn't happy, but we should be
Linux turns 23 and Linus Torvalds celebrates as only he can
No, not with swearing, but by controlling the release cycle
Apple promises to lift Curse of the Drained iPhone 5 Battery
Have you tried turning it off and...? Never mind, here's a replacement
Sin COS to tan Windows? Chinese operating system to debut in autumn – report
Development alliance working on desktop, mobe software
Microsoft boots 1,500 dodgy apps from the Windows Store
DEVELOPERS! DEVELOPERS! DEVELOPERS! Naughty, misleading developers!
Eat up Martha! Microsoft slings handwriting recog into OneNote on Android
Freehand input on non-Windows kit for the first time
This is how I set about making a fortune with my own startup
Would you leave your well-paid job to chase your dream?
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.