diff --git a/openerp/cli/server.py b/openerp/cli/server.py
index 638fb081cac..0315468b7b2 100644
--- a/openerp/cli/server.py
+++ b/openerp/cli/server.py
@@ -98,6 +98,8 @@ def preload_registry(dbname):
         openerp.modules.registry.RegistryManager.new(dbname, update_module=update_module)
     except Exception:
         _logger.exception('Failed to initialize database `%s`.', dbname)
+        return False
+    return True
 
 def run_test_file(dbname, test_file):
     """ Preload a registry, possibly run a test file, and start the cron."""
@@ -261,12 +263,14 @@ def main(args):
         else:
             openerp.service.start_services()
 
+    rc = 0
     if config['db_name']:
         for dbname in config['db_name'].split(','):
-            preload_registry(dbname)
+            if not preload_registry(dbname):
+                rc += 1
 
     if config["stop_after_init"]:
-        sys.exit(0)
+        sys.exit(rc)
 
     _logger.info('OpenERP server is running, waiting for connections...')
     quit_on_signals()