Peoplesoft 3Q Finally Sees Rising Profit

The Pleasanton, Calif., vendor's third quarter ends a yearlong run of declining profit. PeopleSoft had lost $1 billion in sales by its second quarter as customers stopped buying PeopleSoft's software while the company lay under the hot lights of the Oracle/Department of Justice anti-trust trial.

License revenue rose to $161.4 million in the third quarter from $130 million in the second quarter and $160.5 million a year earlier. Earlier this month PeopleSoft had predicted third-quarter license revenue of $155 million to $165 million.

In his comments during the analysts' call Thursday, Parker said the maximum potential liability from the company's Customer Assurance Program is now $2.4 billion. Parker said he was encouraged that the vice chancellor presiding over last week's trial in the Delaware Chancery Court will allow the program to continue.

Phil Wilmington, also newly named co-president, said PeopleSoft's goal is now to "catch and surpass SAP. To do that, we will rejuvenate our ability to innovate."

Separate, Oracle announced that has again extend its $21 per share bid, now set to expire at midnight, November 5.