Tech firms do the numbers
PeopleSoft and E*Trade are among the high-technology companies reporting strong quarterly growth for the quarter.
PeopleSoft, a client-server applications software maker, reported second-quarter revenues of $320.5 million, up from $184.4 million a year ago. Company executives expect revenues for the third quarter to increase roughly 60 percent over the previous year.
The company's net income reached $39.2 million, or 15 cents a share, for the quarter, up from $22.3 million, or 9 cents a share a year ago. Analysts were estimating the company would post earnings of 14 cents a share for the quarter, according to First Call.
E*Trade, meanwhile, reported third-quarter revenues of $62.3 million, up 68 percent from a year ago. The online brokerage company saw its total pages viewed jump to an average of 2.2 million per day, up 57 percent from the previous quarter.
Net income, meanwhile, rose to $6.6 million, or 16 cents a share for the quarter, up 114 percent from the previous period. The company's earnings also were up 7 percent from the previous quarter. Analysts had pegged the company's earnings at 16 cents a share, a First Call consensus said.
Other Internet companies reporting include RealNetworks, which reported second-quarter revenues of $15.1 million, up 115 percent over the previous year.
The company narrowed its loss for the quarter to $2.1 million, or 7 cents a share, compared with a loss of $2.7 million or 12 cents a share a year earlier. Wall Street had expected the company to report a loss of 10 cents a share, according to First Call.
Unix-based software firm SCO announced a decline in third-quarter revenues to $25.2 million, down from $31.2 million a year earlier, as the company worked toward reducing inventory in its reseller channels.
SCO narrowed its net loss for the quarter to $21 million, or 59 cents a share, compared with a loss of $24.6 million or 67 cents a share a year ago. Analysts had predicted a smaller loss of 53 cents a share, a First Call average reported.
In addition, Computer Associates reported first-quarter revenues of $1 billion, up 18 percent from year-ago figures. Net income was $194.2 million, or 34 cents a share, for the quarter, compared with $155.8 million or 28 cents a share in the previous year. CA slightly beat Wall Street's expectations of 33 cents a share for the quarter, according to First Call.