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SYBASE PLUGS ON WITH Q3 THAT JUST TOPS ESTIMATES

Sybase Inc seems to be continuing down the road to recovery, posting third-quarter net income of $5.2m, or $0.07 per share, an 18% improvement over Q2 and vastly preferable to the loss of $52.6m a year ago – which included a whopping $49.2m restructuring charge. The $0.07 per share topped First Call’s consensus by a penny, and represented the company’s fourth consecutive profitable quarter. Server license revenue was up 5% on the second quarter and 1% year over year. Revenue for the quarter was $244.2m, up 2.8% sequentially while still continuing its disappointing trend of being slightly below last year’s corresponding quarter (by 2.4%). The company says it has seen solid initial response to its new Java development tool and component transaction server, as well as the latest release of its flagship database, Adaptive Server Enterprise 11.5. The continued success of these products, coupled with the fourth- quarter launch of the PowerBuilder 6.0 application development tool, has the folks at Sybase feeling good about driving revenue growth forward. Sybase also boasted of major contracts inked during the quarter with partners as varied as Federal Express, the National Basketball Association and the Postal Service of Indonesia. Nine-month net income was $13.1m – or $0.17 per share – on revenue down 2.7% at $723.7m, compared to a loss of $84.1m last year.

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CBR Staff Writer

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