The year 2001, which was an exceptional year of financial performance for PeopleSoft, including record total revenue, record profit, and more than $500 million of generated cash, might have become its liability as well, as it might be quite difficult to repeat.
record forecast accuracy
ended a string of record results during previous six quarters. For the first quarter ended March 31, 2002, software license revenue declined 13% to $133 million, from $153 million in Q1 2001 (See Figure 1). Likewise, total Q1 2002 revenue was $483 million, a decline of 6% from $514 million a year ago, justified by the management with all-too-familiar slowdown in IT spending. Figure 1. However, income from recurring operations, however, increased by 28% to $46 million, up from $36 million in the same