PeopleSoft Q4 Profit Rises

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PeopleSoft on Thursday said its fourth-quarter profit was up more than Wall Street had expected, as sales of its revamped business automation software bucked a challenging technology spending environment.

The Pleasanton, Calif.-based company posted net income of $57.8 million, or 18 cents per diluted share, comapred with $44.2 million, or 14 cents, in the fourth quarter of 2000.

Revenue rose, to $528.2 million from $497.8 million.

Analysts, on average, had expected the company to earn 16 cents a share on revenue of $521.7 million, according to tracking firm Thomson Financial/First Call.

PeopleSoft competes with software industry giants SAP, Oracle and Siebel Systems.

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