Updated from 5:19 p.m. EDT
bettered its own recently issued guidance and Wall Street's expectations for the third quarter, driving revenue to a record $699 million, the business software maker reported after the close of trading Thursday.
But investors hoping for insight into the company's willingness to negotiate with
, now that PeopleSoft's new executive team is in place, were disappointed: The company flat out refused to discuss its position on the prolonged hostile takeover bid until a midquarter update in late November.
Excluding items, the company earned a profit of $62 million, or 17 cents a share. Analysts polled by Thomson First Call were expecting a profit of 14 cents a share on sales of $680.75 million. The 3 cents of upside was largely driven by routine cost savings across the company, said PeopleSoft co-President Kevin Parker.
The market showed only moderate interest in PeopleSoft Thursday, with volume below average, likely because the company preannounced most of its results a few weeks ago. In after-hours trading, the stock was up 6 cents to $20.49, after gaining 23 cents, or 1.1%, during the day.
According to generally accepted accounting principles, net income was $24 million, or 6 cents a share, compared with a loss of $7.34 million, or 2 cents a share, a year ago on the same basis. PeopleSoft took a significant charge last year relating to the acquisition of J.D. Edwards.
Sales were up 12% year over year.
License revenue, a measure of new business and a key metric for software companies, was flat, coming in at $161 million, compared with $160.5 million last year.
Separately, Oracle announced that it has extended its tender offer for PeopleSoft until November 5. The price remains the same -- $7.7 billion, or $21 a share.