Although it didn’t affect the out-turn for the fiscal year, so that the company is still just where it said it was at the end of May, that restatement of its second, third and fourth quarter figures by Oracle Corp (CI No 1,499) has given rise to worries over the company’s current quarter: analysts reckon that the restatement reflects an over-enthusiastic sales force booking prospects as firm sales, and fears that now that rigour has been restored, the company will report a down sales quarter year-on-year and could report a loss – all of which was bad for a $1.875 dip in the share price to $12.375.
