UPDATE 1-Oracle says sales, new products on track
(Adds company and analyst comments, new product details)
By Jim Finkle and Eric Auchard
BOSTON/SAN FRANCISCO Nov 14 (Reuters) - Oracle Corp ORCL.O, the world's No. 3 software maker, said on Wednesday it is on track to meet its quarterly and long-term financial targets and that it will start shipping a new product early next year.
Safra Catz, Oracle's president and chief financial officer, told analysts that she is standing by the financial outlook she issued in September. She had forecast that sales of new software would rise 15 to 25 percent from a year earlier during the current quarter.
She made the comment at an investor meeting in San Francisco, responding to a question by a Wall Street analyst about how confident she was in her outlook for the company, given the the credit crisis shaking the rest of the market.
Earlier, Oracle Chief Executive Larry Ellison told thousands of customers in a packed auditorium that the software maker plans to start shipping the first in its new line of Fusion business management programs early next year.
The lead product will be a marketing tool called Sales Prospector which is based on software that Oracle acquired when it bought Siebel Systems. It will compete with products from rivals Salesforce.com (CRM.N: Cotización), SAP (SAPG.DE: Cotización) and Microsoft Corp (MSFT.O: Cotización).
Investors' concerns about the impact of the credit crisis were renewed last week when Cisco Systems Inc (CSCO.O: Cotización) said that its business was suffering as a result of "dramatic decreases" in orders from U.S. banks roiled by the home mortgage lending crisis.
Catz said that issue is old news, localized to specific banks, and that nothing in recent months has surprised her or led her to revise her outlook from September. Continuación...