Business software maker PeopleSoft Inc. on Thursday posted a net loss for the third quarter but still beat expectations, and management boosted its projections for the current quarter, raising the hurdles facing rival Oracle Corp.'s hostile takeover bid.
The Pleasanton, Calif., company posted a loss of $7.3 million, or 2 cents a share, in the quarter, contrasted with a profit of $44.6 million, or 14 cents, a year earlier.
The latest results included accounting adjustments related to PeopleSoft's $2-billion acquisition of J.D. Edwards & Co., which was completed during the quarter.
If not for the one-time adjustments, PeopleSoft said it would have earned $62 million, or 17 cents a share. That was well above the consensus estimate of 11 cents a share among analysts polled by Thomson First Call.