PeopleSoft meets fourth-quarter targets

PeopleSoft wrapped up its 2003 financial year with a report that met analyst expectations.

PeopleSoft wrapped up its 2003 financial year with a report that met analyst expectations.

PeopleSoft acquired fellow business applications maker JD Edwards in July, but did not provide in its report a breakdown of how that acquisition affected its revenue.

For the fourth quarter, ending 31 December, PeopleSoft reported revenue of $685.2m (£379m), up from $512.3m in last year's fourth quarter, which was before it had merged with JD Edwards.

Excluding charges related to the acquisition, PeopleSoft had operating income of $112.5m (£62m). Including the acquisition costs, PeopleSoft's net income for the quarter was $17.4m.

PeopleSoft chief executive officer Craig Conway said the company "couldn't be better positioned" for the coming year.

PeopleSoft's revenue for the year was $2.3bn, up from $1.9bn in 2002. Including acquisition costs, its net income for the year was $85m, down from $182.6m in the previous year.

Stacey Cowley writes for IDG News Service

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