Oracle Corp. reported that net income earnings fell 7 percent in the fourth quarter, while operating margins rose to 42 percent, with income impacted by the reduced value of foreign currencies when compared to U.S. dollars, the company said Tuesday.
Excluding currency effects earnings per share would have been up 9 percent, the Redwood Shores, Calif.-based company said.
Total revenues were down 5 percent to $6.9 billion while net income fell 7 percent to $1.9 billion.
Oracle chief executive officer Jeff Epstein said in a company press release that the firm did better than expected “on both the top and bottom line for the quarter.”
Operating income was down 3 percent to $2.9 billion. However operating margin was up 100 basis points to 42 percent, the company said.
“We grew Q4 non-GAAP operating margins by a faster than expected 240 basis points to over 51 percent,” Epstein said. “That helped us generate $7.7 billion in free cash flow for 2009.
The company also set up a cash dividend of $0.05 per share of outstanding common stock to be paid, or about $249 million.