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PeopleSoft Reports Some Good Financial News

In one of the strongest fall performances among enterprise software vendors, PeopleSoft Inc. (PSFT-Nasdaq) last week reported revenue of $509.4 million for its third quarter, up from $443.1 million a year ago. Operating profit rose to $67.7 million in the quarter ended Sept. 30, compared with a loss of $10.1 million in the same period last year. Net income ...
In one of the strongest fall performances among enterprise software vendors, PeopleSoft Inc. (PSFT-Nasdaq) last week reported revenue of $509.4 million for its third quarter, up from $443.1 million a year ago. Operating profit rose to $67.7 million in the quarter ended Sept. 30, compared with a loss of $10.1 million in the same period last year. Net income was $50.3 million, less than the $68.7 million in the third quarter last year, which included a $45.3 million after-tax gain from the sale of Commerce One Inc. stock. After the Sept. 11 attacks, customers in or near the World Trade Center withdrew $25 million in contracts and others canceled orders. Says CEO Craig Conway, "We can only imagine how well we would have done." Oracle, SAP, and Siebel Systems recently reported weak earnings.