ORACLE REPORTS Q1 GAAP EPS UP 20% TO 27 CENTS; NON-GAAP EPS UP 38% TO 42 CENTS
Software New License Sales Up 25%, Total GAAP Revenue Up 48%
REDWOOD SHORES, Calif., September 16, 2010
Oracle Corporation (NASDAQ: ORCL) today announced fiscal 2011 Q1 GAAP total revenues were up 48% to $7.5 billion, while non-GAAP total revenues were up 50% to $7.6 billion. GAAP new software license revenues were up 25% to $1.3 billion. Both the GAAP and non-GAAP software license updates and product support revenues were up 11% to $3.5 billion. GAAP operating income was up 10% to $1.9 billion, and GAAP operating margin was 26%. Non-GAAP operating income was up 27% to $2.9 billion, and non-GAAP operating margin was 39%. GAAP net income was up 20% to $1.4 billion, while non-GAAP net income was up 38% to $2.1 billion. GAAP earnings per share were $0.27, up 20% compared to last year while non-GAAP earnings per share were up 38% to $0.42. GAAP operating cash flow on a trailing twelve-month basis was $8.8 billion.
"We executed better than expected on both the top and bottom line for the quarter,” said Oracle CFO, Jeff Epstein. “Strong revenue performance plus disciplined business management enabled a 38% increase in non-GAAP earnings per share to $0.42.”
“Our software business grew strongly in all regions with new license sales up 25%,” said Oracle President, Safra Catz. “Our hardware business also grew faster than we expected with Sun Solaris servers and Exadata leading the way.”
“Next week at Oracle OpenWorld we will announce two new high-end systems that combine Sun hardware with Oracle software,” said Oracle President, Mark Hurd. “We will invest over $4 billion in research and development this year, so our already robust product portfolio is only going to get stronger.”
“Our Exadata database machine continued to win new customers in Q1,” said Oracle CEO, Larry Ellison. “The worldwide Exadata pipeline now exceeds $1.5 billion for the full fiscal year.”
In addition, Oracle’s Board of Directors declared a cash dividend of $0.05 per share of outstanding common stock to be paid to stockholders of record as of the close of business on October 6, 2010, with a payment date of November 3, 2010. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of Oracle’s Board of Directors.
Q1 Earnings Conference Call and Webcast
Oracle will hold a conference call and webcast today to discuss these results at 2:00 p.m. Pacific. You may listen to the call by dialing (800) 214-0745 or (913) 643-0950, Passcode: 804992. To access the live webcast of this event, please visit the Oracle Investor Relations website at http://www.oracle.com/investor.
Oracle (NASDAQ: ORCL) is the world’s most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our website at http://www.oracle.com or call Investor Relations at (650) 506-4073.
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