Techonomics | Distractions Cost PeopleSoft



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June 17, 2004

Distractions Cost PeopleSoft

By Beth Bacheldor

Oracle-PeopleSoft Insider

The expense of acquiring J.D. Edwards & Co. hurt profits at software maker PeopleSoft Inc. even as sales grew. And so has the distraction of fending off Oracle's $9.4 billion hostile takeover bid. "We don't have the use of both arms," PeopleSoft president and CEO Craig Conway said in a conference call last week. He put the cost of defending against the takeover at $55 million. PeopleSoft's first-quarter revenue grew 40% from a year ago to $643.1 million. Net income dropped 37% to $24.2 million because of restructuring and other charges relating to the J.D. Edwards deal. Excluding charges, PeopleSoft earned $62.4 million. Conway said, "We hope the remaining distractions will be fully resolved" in the second quarter.

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Editorial and vendor perspectives

Now that Oracle has completed the takeover of PeopleSoft, what should its top priorities be?

Meeting with customers to understand their concerns and priorities

32%

Integrating the respective product lines

13%

Giving clear direction on where the combined company is headed

51%

Other

Oracle's Customer Crusade
Company outlines ambitious program to develop a suite of merged software.


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