Oracle's operating cash flow hits record $11.2 billion in fiscal 2011

By Jennifer Lanning Drey

Savannah, Ga., June 24 - Oracle Corp.'s operating cash flow increased to a record $11.2 billion in fiscal 2011, while free cash flow increased to $10.8 billion for the year, Safra Catz, the company's chief financial officer, reported during Oracle's year-end earnings conference call held late Thursday.

The company had $29 billion in cash and marketable securities at the May 31 fiscal year-end.

"We're committed to returning value to our shareholders through technical innovation, strategic acquisitions, stock repurchases, prudent use of debt and the dividend," Catz said regarding the company's cash position.

Oracle reported fourth-quarter revenues of $10.8 billion, compared with revenues of $9.5 billion in the same period of 2010. For the full year, total revenues increased by 33% to $35.6 billion. Full-year revenues were $26.8 billion in 2010.

GAAP net income increased by 36% to $3.2 billion in the fourth quarter, versus net income of $2.4 billion in the fourth quarter of 2010. Full-year net income was $8.5 billion, an increase of 39% over net income of $6.1 billion in 2010.

"We delivered yet another exceptionally strong quarter to complete a fantastic year for Oracle. We continue to have a lot of company-specific momentum, and we executed extremely well throughout the fiscal year, exceeding even our own optimistic expectations quarter after quarter," Catz said.

Oracle's database business experienced its fastest growth in a decade, the company reported.

The computer software and technology company is based in Redwood Shores, Calif.

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