Anti-trust trial hits PeopleSoft results, CEO claims

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Anti-trust trial hits PeopleSoft results, CEO claims

PeopleSoft released its preliminary second-quarter 2004 results on Wednesday (6 July), warning that its financial performance had been adversely affected by Oracle's hostile bid for the company and the publicity it has received in recent court skirmishes.

The enterprise software supplier said it expects to report revenue of between $655m and $665m (£357m) for the quarter ended 30 June 30.

The company's final second-quarter results are due out on 27 July.

Extensive publicity from the US government's antitrust trial to block Oracle's hostile bid has adversely affected PeopleSoft's business over the past month, PeopleSoft president and chief operating officer Craig Conway said in a statement.

PeopleSoft believes that evidence submitted in the trial displayed Oracle's interest in disrupting its business and damaging the company, Conway added in the statement.

The US government's case, which is due to wrap up later this month when closing arguments are delivered, has placed PeopleSoft, Oracle and their competitors in the headlines recently, revealing the normally secret worlds of the enterprise software giants.

Oracle made its initial bid for PeopleSoft more than a year ago, but this will be the first quarter that PeopleSoft is predicted to miss expectations related to the takeover bid.

 


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