PeopleSoft, Inc. reported financial results for the fourth quarter and year ending December 31, 1996. Non-recurring charges totalling $28.4 million connected to the acquisition of PMI and PeopleSoft's merger with Red Pepper Software Company reduced fourth quarter net income to $1.7 million, based on revenues of $147.7 million. For the year, PeopleSoft earned a net income of $35.9 million (.30 per share) based on revenues of $450.1 million.
Without the non-recurring charges, the company's fourth quarter and annual totals for revenues and net income in 1996 come close to doubling those from the corresponding periods in 1995.
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