Sybase has announced solid results for its third quarter ended 30 September, reporting pro forma net income of $25 million and earnings per share of 26c on revenues of $203 million, just under the $205 million market analysts had expected. Net income was 26.2% up compared with $20 million and earnings of 20c on revenues of $226.8 million in the same quarter last year.
"These figures show that Sybase is well positioned to take advantage of opportunities in the market, irrespective of the economic climate," says Alan Cowley, Sybase SA CEO. "They indicate too that Sybase has taken the right corrective action to deliver bottom line results."
Underlining the strength of the company is its financial position: at the end of the quarter, Sybase had close on $367 million in cash and cash investments. Highlights in the third quarter were a strategic alliance with PeopleSoft, in terms of which the company becomes Sybase's preferred ERP and CRM vendor; the beta release of PowerBuilder 9.0; announcement of PowerBuilder's interoperability with Microsoft's .NET; and iAnywhere Solutions was accorded the top spot in IDC's Leadership grid.
Notable wins in this quarter included AT&T Wireless, Baylor Healthcare, Salomon Smith Barney, Heineken, Indiana University, ING, Jefferies, Job Corps, MBNA America Bank, Nortel Networks, Starz Encore, TD Waterhouse, Guardian Life, and the US Navy.
In Asia Pacific, significant customer wins included Guang Dong FuShan Mobile, Gui Zhuo Telecom, PingAn Insurance, Shanxi Telecom in China; Chung Hwa Telecommunications Co, the Taiwan National Fire Administration and the Taiwan National Police Administration Ministry in Taiwan; Hyundai Securities in Korea; Concorde Travel, Franklins Supermarkets, and Travelex in Australia; and HDFC Bank in India.
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