Oracle Expects to Meet Forecasts
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Oracle Corp. expects to meet analysts’ profit forecasts for the current quarter even as last week’s terrorist attacks slow already lagging demand, Chief Financial Officer Jeff Henley said.
The software maker said it expects to earn about 11 cents a share in its fiscal second quarter by cutting costs to cope with an expected 15% decline in software license sales, Henley said during a conference call. Management previously had expected a decline of 8% to 10% in software sales.
The profit forecast matches the average estimate of analysts polled by Thomson Financial/ First Call.
The Redwood City, Calif.-based company still is evaluating whether the terrorist assault may affect business, Henley said.
Oracle shares fell 45 cents to close at $11.01 on Nasdaq before Henley’s comments.
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