Sybase has continued to buck market trends, reporting earnings per share (EPS) of 30c for the fourth quarter ended 31 December 2002, and full-year $1.02 on a diluted basis. These figures exceeded the First Call consensus earnings estimates, and were slightly up on the previous year. Both figures are pro forma.
Total revenues for the fourth quarter were $210.6 million compared to fourth-quarter 2001 revenues of $236.7 million. Total revenues for the full year 2002 were $829.9 million, compared to $927.9 million reported for 2001.
"Sybase delivered strong fourth-quarter results and ended 2002 on a positive note," comments Alan Cowley, Sybase SA CEO. "Sybase has never been in a better market position than it is today, and its financial strength clearly reflects its success. Sybase's continues to redefine the middleware market with end-to-end solutions, from data management to mobile and wireless solutions."
During the fourth quarter, Sybase won a number of new customers, engaged several new partners, and was recognised by analysts and other industry leaders for a range of its innovative technology solutions.
Pro forma net income for the fourth quarter of 2002 was $29.3 million versus $31.3 million for the fourth quarter of 2001. Full year 2002 pro forma net income was $101.4 million versus $96.6 million reported in 2001.
The fourth-quarter and full-year 2002 results included the impact of a goodwill impairment loss, a write-off on adoption of new regulatory requirements, the cost of restructure charges and the armortisation of other purchase intangibles.
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