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January 27, 2010

Sybase Q4 revenue up 9% to $331.7m

Expects revenue to be in the range of $285m to $295m in Q1 2010

By CBR Staff Writer

Sybase has reported total revenue of $331.7m for the fourth quarter of 2009, up 9%, compared to $305.1m for the same period last year.

The company posted an operating income of $98.6m, an increase of 41% compared to $69.8m for the same period year ago, representing an operating margin of 30%.

For the quarter ended December 31, 2009, the company posted a net income of $59.8m, up 34% compared to $44.6m for the same period last year. Earnings per diluted share (EPS) was $0.66, grew 22%, compared to EPS of $0.54 for the same period in 2008.

Sybase software license & services segment revenue for the fourth quarter was $273.92m, while messaging and hosted software revenue was $57.76m.

For the full year 2009, the company posted revenue of $1.17bn, an increase of 3%, compared to $1.13bn in 2008. Operating income was $289.7m, an increase of 38%, compared to $210.05m in 2008, representing an operating margin of 25%. Net income was up by 28% to $164m, and EPS grew 27% year over year to $1.86.

John Chen, chairman, CEO and president of Sybase, said: “2009 marked a year of major accomplishments for Sybase as we strengthened our leadership position in enterprise computing. We secured key mobility partnerships with SAP, Verizon, Samsung and IBM and delivered innovative products in analytics, enterprise mobility, and mobile commerce. In the process, we garnered recognition for leadership in our key growth markets.

As a result, we enter 2010 well positioned for continued momentum and ongoing market share gains as our vision increasingly resonates with our expanding customer and partner ecosystem.”

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The company anticipates total revenue to be in the range of $285m to $295m for the first quarter ending March 31, 2010. EPS is expected to be in the range of $0.41 to $0.43. For full-year 2010, the company expects total revenue of approximately $1.23bn and EPS of approximately $2.10.

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