PeopleSoft earnings up on declining revenues

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PeopleSoft has posted earnings that rose 28 per cent year-over-year, in line with company estimates, but sales slipped 13 per cent. "PeopleSoft was not immune to the slowdown in technology spending in the first quarter," said PeopleSoft CEO Craig Conway.

Earnings from recurring operations were $46 million compared with earnings of $36 million in the year-ago quarter, but revenue fell to $483.3 million from $514.2 million. Software licence sales fell to $133.3 million from last year's $153.3 million.

The company is set to announce a number of new products which it hopes will beef up its prospects. Three new applications are on the cards, beginning with an incentive planning module which will help companies create compensation and incentives programmes for sales staff. The second will be designed to allow companies to review and provide feedback on the performance of employees, while the third will help companies create training plans for employees and track employee enrolment and training courses.

The company will also rebadge its human resources application division as Human Capital Management.

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