Oracle has narrowly beaten analyst earnings expectations, but its first-quarter sales dropped slightly from a year ago. The database giant postponed discussion of the results, and announcing its management outlook, until the stock market reopens on Monday.
The company reported earnings in its fiscal first quarter ended August of nine cents a share, compared with eight cents in the year-ago quarter. Oracle posted a first-quarter profit of $511m compared with last year's first-quarter profit of $500.7m.
A consensus of analysts had predicted earnings of eight cents a share, according to First Call. For its first quarter, Oracle's revenue dropped less than one per cent, from $2.26bn in 2000 to $2.24bn this year.
Chief executive Larry Ellison said that he decided to postpone his scheduled earnings conference call to give analysts and investors more time to recover from the terrorist attack.
In a statement, Ellison explained that the results were announced without comment or elaboration. "We feel it is very important to continue to move forward as a sign of our determination not to be bowed by despicable acts of terrorism and, to that end, we have released the numbers as planned," he said.
Todd Beamer, an account manager at Oracle, died on the hijacked United Airlines flight. Seven other Oracle employees in or near the World Trade Center on Tuesday are still missing.
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