Rochester,NY 7/15/2009 4:17:50 PM
ORCL - Oracle expects Sun to add $1.5B to profit After Sun’s buyout vote on Thursday
Oracle Corporation
Oracle Corporation, ORCL
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The deal that could combine two of Colorado's largest tech employers -- Oracle Corp. and Sun Microsystems Inc. -- could significantly boost database giant Oracle's profits, the company said Tuesday. Sun, meanwhile, set Thursday as the date for its shareholders to vote on its proposed acquisition by Oracle. Oracle said it expects its acquisition of Sun to add $1.5 billion to its annual non-GAAP profit, and that the increase could go up to $2 billion in the second year after the deal closes. The deal to buy Sun still must be approved by shareholders and also requires the OK of regulators. Non-GAAP profit excludes certain items and is not the profit or loss reported on a company’s balance sheet or to the Securities and Exchange Commission.
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