Skip to main content

Oracle Will Release Earnings Without Conference Call

The software company wants to send a message. Consumer software maker Adobe decided to postpone.


(ORCL) - Get Oracle Corporation Report

will go ahead with business and report earnings for its first fiscal quarter as scheduled this afternoon, in wake of Tuesday's terrorist attacks, though it postponed its conference call with investors until the stock market reopens.

Adobe Systems

(ADBE) - Get Adobe Inc. Report

, another software company that was scheduled to report earnings results today, said yesterday that it would postpone its report until next week in the wake of the tragedy.

"In deference to recent tragic events and related stock market closures, Oracle is taking this step to ensure that the investment audience is able to actively participate in Oracle's earnings announcement," the company said in a statement. U.S. stock markets have been closed for three days, since terrorists launched the largest attack on American soil since Pearl Harbor.

Mark Jarvis, Oracle's head of marketing, said the company decided to report despite the fact that stock markets remain closed to send a message to the attackers who slammed planes into the twin towers of New York's World Trade Center, the Pentagon in Virginia and a desolate field in Pennsylvania Tuesday.

Scroll to Continue

TheStreet Recommends

"We did weigh, very strongly, the positives and negatives of going forward," Jarvis said. "We felt it is important for us to show that terrorism is not going to change things. We are not going to allow them to change us."

The company said one of its employees, Todd Beamer, a 32-year-old salesman with two kids and a wife who is expecting a third, died aboard United Flight 93 from Newark to San Francisco, which was hijacked before crashing southeast of Pittsburgh Tuesday. Beamer had been with the firm for seven years and worked in its New Jersey offices. He was on his way to a sales meeting at the company's Redwood Shores, Calif. headquarters.

Six other employees, part of Oracle's consulting organization who were at the World Trade Center during the attacks, remain unaccounted for, the company said. It has not released the names of those individuals.

Oracle, which makes database software and is the world's second largest pure-play software company, has remained open and at work in the wake of the attacks to service its clients, especially those who had offices in the World Trade Center.

"A lot of the companies that were affected by this tragedy, their ability to access information, especially in the securities industry and many of the companies in that building, are very dependent on our technology," Jarvis said. "We believe that an essential component of our part in this tragedy is to be here and answer the phone for people who need our help."

In an email sent to employees earlier this week, founder and CEO Ellison told employees they could take time off if they felt they needed to, but that he would not shutter the business he helped found in 1979.

"We cannot and must not shut down," Ellison wrote. "Hospitals, airports, police agencies, intelligence agencies, the military, and the executive branch of our federal government all rely on our information systems to dotheir jobs."

The company will report earnings after 4 p.m. EDT. It will schedule a conference call to discuss those results after market officials confirm a reopening date for the equity markets. Wednesday, Richard Grasso, chairman of the New York Stock Exchange, said stocks could begin trading again as early as Friday, but no later than Monday.