Oracle sees business picking up by spring

REDWOOD SHORES: Oracle Corp. chief financial officer Jeff Henley on Wednesday

joined numerous software company executives in making the assertion this month

that there are signs the downtrodden industry's fortunes will begin to turn

later this year.

"We should start to see some pickup by spring 2002," Henley said

during the No. 2 software maker's annual meeting with analysts.

In recent weeks, Oracle rivals Siebel Systems Inc., SAP AG and other large

software companies that sell mainly to corporations issued similarly optimistic

views on 2002. While Henley said the stage is set for improvement during this

calendar year, he warned that he does not yet see the immediate return of

"normal" economic conditions or demand.

"I haven't seen big changes yet," he said. In the meanwhile, Henley

said companies are working off excesses and restarting big projects that were

idled during the dot-com meltdown and subsequent belt-tightening.

Sales pipelines are getting stronger, he added, but it still is taking more

leads and more time to close deals.

(C) Reuters Limited.