The business world must also make hard decisions. Mergers, sales and changes have to be dealt with or shoved to the side. Earnings statements still have to be handled, even if bad statements run the risk of worsening a mood and good ones come at such an inopportune time that they seem unworthy of celebrating.
In the face of such conundrums, software firm Oracle managed to come to a Solomonic decision Friday. The company announced its Q1 results, but in a manner befitting the times. In a statement, the company said, In the aftermath of Tuesday's terrorist attack on the United States, Oracle Corporation is announcing its Q1 quarterly results without comment or elaboration. Oracle has seven people missing in the World Trade Center, and one person lost on United Flight 93. Our heart goes out to all of the families who have lost loved ones. We pray more survivors will be found.
Our efforts and energies are now focused on helping the agencies of our government relief, law enforcement, intelligence and military respond to this national emergency. Our people, computers and facilities are being retasked to help these agencies reestablish systems that have been interrupted by the attack.
Oracle recorded first quarter income of $511 million on revenue of $2.2 billion. Earnings per share increased to 9 cents compared with 8 cents in Q1 last year. Operating margins increased from 29 percent last year to 33 percent this year.