Oracle nervous over terrorism fall out

Oracle has warned that last week's terrorist attacks on the US will adversely affect its business over the next six months.

In a conference call, chief executive Larry Ellison said: "We don't think things are recovering and, in light of last week's events, we think things will get slightly worse."

He added that the firm was now looking at a 15 per cent decline in new licence revenues over the next three months and flat profits, albeit at over £340m ($500m) per quarter. Oracle said last week that it made a profit of £349m ($511m) in the three months to the end of August.

Jeff Henley, chief financial officer, said: "The good news last quarter was that things did not get any worse. But we do not expect them to get any better until 2002. We had been hoping there would be some sort of improvement in the next quarter or two, but now we are scratching our heads."

Henley believes that the airline, financial and insurance industries may delay new orders in the aftermath of last week's attacks.

• Tweet  
• Facebook  
•  
•  
• Send to  

• Topics
• Management