PeopleSoft Recuperating Slowly, Hoping to Sink 1999 into Oblivion Quickly
P.J. Jakovljevic - February 23, 2000

Event Summary

In 1999, PeopleSoft posted flat revenues of $1.43B compared to revenues of $1.47B in 1998. Profits declined 87% to $21M for 1999 compared to $164.1M in 1998, excluding nonrecurring costs. When including nonrecurring costs, PeopleSoft lost $177.8M in 1999. For the fourth quarter of 1999, revenue topped $372M and profits hit $11M, a 9.5% revenue drop from the $411.3M posted in Q498, and a 73% drop from the $42.3M in profits in Q498. When including nonrecurring costs, PeopleSoft lost $5.6M in the fourth quarter...