Oracle’s profits up 4 percent despite lower sales – Quarterly revenue was off 5 percent, but the company kept costs down and grew profit margins by 4 percent. The Redwood City, Calif.-based company earned $1.124 billion, or 22 cents a share, on sales of $5.054 billion. In some areas the company was hit hard. New license revenue was off 22%, and revenue from consulting fell 23 percent. On a conference call, president Safra Catz said Oracle’s operating profit margin hit 46%, a company record. If Oracle closes its pending deal to acquire Sun Microsystems, that would, Catz said, immediately add $1.5 billion to Oracle’s annual profits.