Oracle Corp. (ORCL: chart) Wednesday posted net income of $1.02 billion, or 20 cents a share, in the quarter ended May 31, versus net income of $990 million, or 19 cents a share, in the year-ago comparable period.

Overall revenue climbed 26% to $3.88 billion versus $3.08 billion.
Oracle said the growth in its sales and earnings was helped by organic growth and the company's acquisition of PeopleSoft last January.
The company's software revenue jumped 24% to $3.12 billion versus $2.52 billion.

Oracle also added that its database and middleware new-license revenue advanced 16% to $1.26 billion, while its applications new-license revenue increased 52% to $350 million.

General Mills Inc. (GIS: chart) said fourth quarter earnings jumped to $460 million, or $1.14 a share, versus $278 million, or 68 cents a share, with revenue dropping 2.5% to $2.72 billion. Adjusted earnings of 64 cents a share disappointed analysts' expectations by a penny. The company intends to renew share repurchase activity in 2006, and sees share repurchases as a source of earnings-per-share increase in 2006. The company sees an 8% to 10% drop in earnings per share for fiscal 2006 on the year-earlier lift from dispositions, and expects low single-digit sales increase.

Standard Microsystems Corp. (SMSC: chart),semiconductor solution provider, posted first-quarter net income of $3 million, or 15 cents a share, compared with $2.9 million, or 16 cents a share, in the year-ago comparable period. Revenue for the three-month period advanced about 30% to $53.1 million on the acquisition of Oasis SiliconSystems Holding. Looking ahead, the company said it targets second-quarter pro forma net income of 17 cents to 21 cents a share on revenue between $73 million and $77 million.

Sinclair Pharma PLC (SPH: chart) sees revenue for the year to June to beat of analysts' estimates, with lower-than-expected operating losses. This is due to the inclusion of U.S. license fees for its drug Atopiclair from Chester Valley Pharmaceuticals. The company also said it has signed seven new licensing agreements.

Park Electrochemical Corp. (PKE: chart) said it earned $5.3 million, or 27 cents a share, in the first quarter, versus $6.0 million, or 30 cents a share a year earlier. Excluding special items, the company earned 32 cents a share versus 30 cents a year earlier. The average estimate of Wall Street was for 22 cents earnings a share. Sales declined to $55.7 million from $58.5 million.

Innovo Group (INNO: chart), women's jeans maker, warned that 2005 earnings and sales results are likely to disappoint analyst estimates, blaming a decline in prviate label sales for the third and fourth quarters. The company expects earnings per share from continuing operations of 5 cents a share on sales of $115 million. The company sees in-line second-quarter earnings from continuing operations of 1 cent a share on sales of $29 million.