Anti-trust ‘elephant’ flattens PeopleSoft profits

Link: PeopleSoft blames poor results on Oracle

The financial and business software giant, battling against Oracle’s attempted takeover bid, has posted mediocre figures for the second quarter of 2004.

Net income after US GAAP was $11m compared with $37m in the same period last year. This includes charges and the deferred maintenance write-down from its acquisition of JD Edwards, and also costs attributed to fighting Oracle’s takeover bid.

‘Our financial results in Q2 reflected the heavy media coverage of the United States of America versus Oracle trial,’ said Conway.

The rivals recently made final arguments to the US Justice Department and are awaiting the judge’s decision regarding the antitrust trial.

Related reading