Q2 profits came in at $98.8m, down from $102.6m for the second quarter of 2004. Revenue for the quarter increased by 12% to $1.0bn. EPS was $0.33, below analysts’ expectations of $0.38 as forecast by Reuters Estimates.
Excluding the spin off and expected sale costs, EPS for the quarter was in line with expectations at $0.38. Last October the company announced the spin off of SunGard Availability Services, its data recovery and business continuity unit.
SunGard has also agreed to be sold to a group of private equity firms at $36 per share. The company expects the deal to close in August, and shareholders are set to vote on it at SunGard’s annual meeting on July 28.
