(Fwd) $1 Billion Savings Gets Even Less Likely For Oracle

From: Eric D. Pierce <PierceED_at_csus.edu>
Date: Wed, 21 Mar 2001 11:09:07 -0800
Message-ID: <F001.002D3A9C.20010321105206@fatcity.com>

Forwarded message follows ------- Date sent: Mon, 19 Mar 2001 02:04:08 -0500 (EST)

...

$1 Billion Savings Gets Even Less Likely For Oracle

Oracle's goal to reach one billion dollars in savings by implementing its own financial software just got even more unattainable. Oracle Thursday announced financial results for the third quarter, ending Feb. 28. As expected, the company failed to meet the margins and profits it will need to achieve its savings goals,

The operating margin for the third quarter was 33 percent. That's up 2 percent year-over-year, which is good, but it falls far short of the 40 percent margin that the company and financial analysts have said would be needed to achieve the company's goal of saving 1 billion in costs this year over last year.

Combine the disappointing operating margin with flat, rather than growing, profits and what you end up with is a cost savings, year- -year, significantly less than even the $300 million that it seemed was just barely within Oracle's reach two weeks ago. -- Mitch Wagner

Read the entire story:

http://update.internetweek.com/cgi-bin4/flo?y=eC2a0BdpN70V30LxJk

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Author: Eric D. Pierce
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Received on Wed Mar 21 2001 - 13:09:07 CST