PeopleSoft Blames Oracle for Poor Results
The company announced preliminary results for its second quarter as poorer than expected, blaming the press from Oracle's takeover bid.PeopleSoft Inc. announced Wednesday preliminary results for its second quarter ended June 30poorer-than-expected earnings that company officials blame on bad press stemming from Oracle Corp.s $7.7 billion bid. PeopleSoft has been fending off a hostile takeover attempt from Oracle for the past yeara deal the U.S. Department of Justice is looking to block through a federal injunction. With the trial facing its closing arguments July 20, a ruling isnt expected for at least another month after that.
PeopleSoft, of Pleasanton, Calif., expects to report on July 27 total revenues between $655 million and $665 million, on which it will earn $0.03 to $0.05 per share. Software license revenues are expected to post between $129 million and $133 million.