Oracle Sees Growth From Outsourcing

March 12, 2004

[From internetnews.com]

Oracle's (Quote, Chart) financial reserves saw an infusion of cash from an outpouring of outsourcing contracts secured in the last three months, the company said.

The Redwood Shores, Calif.-based firm, which reported its fiscal third quarter financial statement Thursday, said at least seven new large-scale contracts helped contribute to its $2.5 billion in third quarter revenues and $635 million in net income. Oracle also said its earnings of 12-cents per share were in line with analysts expectations.

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