Wednesday, September 15, 2004 - Oracle's Net Gained 16% in Quarter - Oracle's Net Gained 16% in Quarter "Oracle Corp. said first-quarter net income rose 16%, but a sharp drop in sales of business-applications software underscored the company's urgency in pursuing a hostile, $7.7 billion bid for rival PeopleSoft Inc.
The 36% drop in application software sales contrasted with stronger demand for Oracle's flagship database software, which showed 18% sales growth compared with a year earlier. Overall, the Redwood Shores, Calif., software company reported net income for the fiscal period ended Aug. 31 of $509 million, or 10 cents a share, up from $440 million, or eight cents a share, a year earlier. Total revenue rose 7% to $2.22 billion from $2.07 billion.
Oracle attributed strong demand for its database systems, which function as electronic filing cabinets for all types of information, to a new approach it has dubbed "grid computing." Oracle is touting the approach, in which low-cost PCs are linked together to function as a single computer system."

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