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PeopleSoft Rebounds, Reports Earnings Of $145M For 2000
PeopleSoft Inc., which lost $178 million in 1999 on revenue of $1.4 billion, posted net earnings of $145 million for fiscal year 2000 on revenue of more than $1.7 billion. Company officials say strong demand for version 8 of its enterprise resource planning and E-business software drove license revenue to $496 million for the year, up from $340 million the previous year.
PeopleSoft president and CEO Craig Conway says more than 1,000 customers adopted PeopleSoft 8 in the last four months of the year, and there's enough business in the pipeline to continue on that pace well into 2001. New customers in the quarter include Pepsi Cola General Bottlers, Toyota Motor Manufacturing North America, Kmart, KB Toys, Handspring, and Unilever.
For the fourth quarter of 2000, which ended Dec. 31, the company posted $498 million in revenue, up 34% from $372 million in the same quarter of 1999. License revenue in the fourth quarter was $165 million, up 73% from $95 million in the same quarter of 1999. Service revenue for the last quarter of 2000 was $1.1 billion, compared to $1 billion in the year-ago quarter.
The company reported earnings per share of 15 cents for the fourth quarter of 2000, compared with a loss of 2 cents in the same quarter of 1999. For the year, earnings per share was 48 cents, compared with a loss of 67 cents per share in 1999.
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