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April 24, 2009

Sybase posts strong Q1

Company earned highest-ever quarterly cash flow from operations of $97.4m

By CBR Staff Writer

Business intelligence software provider Sybase has reported a 29% increase in net income to $28.1m for the first quarter 2009, compared to $21.7m in the year-ago quarter, on revenue up 3% at $267.51m.

According to the company, operating income grew 57% to $56.89m, while diluted EPS grew 38% to $0.33. Cash flow from operations was $97.4m and it repurchased $15m of outstanding common stock during the quarter. License revenue grew 14% to $89.3m, services revenue fell 3% to $135m, and messaging revenue grew 1% to $43.3m.

It said that for the second quarter, the company expects revenue between $270m and $275m and diluted EPS between $0.37 and $0.39. For fiscal 2009, it expects revenue to be approximately $1.1 billion and diluted EPS of $1.64 to $1.68.

John Chen, chairman, chief executive and president at Sybase, said: We generated growth across our key data management, analytics, and mobility products. Despite foreign currency headwind, we delivered our sixth consecutive record quarter, including first-quarter highs in total revenue, operating margin, earnings, and cash flow. We enter Q2 with a healthy business pipeline and will continue to invest and manage expenses with discipline.

Sybase is an industry leader in delivering enterprise and mobile software to manage, analyze and mobilize information. The company is recognized globally as the performance in the most data-intensive industries and across all systems, networks and devices. 

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