Oracle's earnings fall from year-ago levels

Oracle Corp., the world’s second-biggest software company, Tuesday posted a lower quarterly net profit from a year ago on charges related to the PeopleSoft purchase.

Net income for Oracle’s fiscal third quarter ended Feb. 28 fell to $540 million, or 10 cents a share, from $635 million, or 12 cents a share, a year ago, the Redwood Shores, California-based company said.

Revenue rose to $2.95 billion from $2.51 billion.

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Excluding items, Oracle reported third-quarter earnings of 16 cents a share.

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Analysts on average were expecting Oracle to post earnings, excluding items, of 15 cents a share on revenues of $3.05 billion, according to Reuters Estimates.

Oracle announced late Monday it had agreed to buy small retail software Retek Inc. for about $670 million, outflanking SAP’s bid for the Minneapolis-based company. The acquisition comes two months after Oracle completed its $10.6 billion purchase of PeopleSoft.