Overall sales for the company in Q4 were down 15.7% to $2.8 billion. Licensing revenues fell 29.2% to $1.2 billion, while revenues from services also dropped to $1.6 billion compared with $1.63 billion in 2001. Full year sales for Oracle have fallen 11.8% to $9.7 billion, with net profits also dropping to $2.2 billion.
Oracle stated that it believes there will not be any improvement in the corporate IT market in the short term. The company is anticipating the market to pick up but not until the latter part of next year. Oracle expects another fall in revenues and profits in the first quarter of the company’s next fiscal year.
