Tech Industry

PeopleSoft sees continuing growth

Fueled by strong demand for its client-server applications, PeopleSoft posts a fourth-quarter revenue jump and beats expectations.

Fueled by continuing strong demand for its client-server business applications, PeopleSoft (PSFT) posted a fourth-quarter revenue jump today of 76.4 percent and beat expectations.

The company posted net profits of $39.5 million, or 16 cents a share, for the quarter ending December 31, up from $1.7 million or 1 cent a share a year ago. Analysts had expected the company to post earnings of 14 cents a share, according to First Call.

Revenues soared to $260.6 million for the quarter, up from $147.7 million a year ago.

Licensing fee revenue rose 64 percent in the quarter over last year, while revenues from services increased 93 percent over the same time a year ago. Services also made up 46 percent of PeopleSoft's total revenues.

International operations generated $40.3 million for the quarter, up 73 percent from the year-ago period.

Meanwhile, the company's client-server offerings, from products to related bundled services, generated $233.2 million in the quarter, up from $135.3 million a year ago.

For the year, PeopleSoft posted revenues of $815.7 million, up from $450.1 million the previous year. Net profits rose to $108.3 million for the year, an increase from $35.9 million a year ago.