Sybase, Inc, a leading provider of enterprise infrastructure and wireless software, reported financial results for the 2005 third quarter ended 30 September 2005.
Total revenue for the third quarter was $199.3 million compared with $198.7 million for the third quarter of 2004. Licence revenue was $69.7 million for the 2005 third quarter compared with $70.4 million for the same quarter a year ago.
Generally accepted accounting principles (GAAP) net income for the 2005 third quarter was $28 million, or EPS of $0.30. This compares with GAAP net income of $17.8 million, or EPS of $0.19 for the third quarter of 2004.
Pro forma net income for the third quarter reached $30.1 million, or earnings of $0.33 per share on a diluted basis (EPS). This compares with pro forma net income of $27.4 million, or EPS of $0.29 for the 2004 third quarter.
Pro forma operating income for the 2005 third quarter was $36.2 million, representing 18% operating margin, compared with pro forma operating income of $36.3 million, or 18% operating margin, for the third quarter of 2004. Pro forma amounts exclude amortisation of certain expenses including certain purchased intangibles, unearned stock-based compensation and restructuring costs.
Operating income for the 2005 third quarter calculated in accordance with GAAP was $30.2 million, representing 15% operating margin, compared with operating income of $21.5 million, or 11% operating margin for the third quarter of 2004.
"We're pleased with our performance this quarter, as we delivered solid results against tough comparables from the third quarter of last year. We beat our expectations on the bottom line, generated solid cash flow from operations, and increased mobile and wireless revenues by 12% year-over-year," said John Chen, chairman, CEO and president of Sybase.
"These results show that Sybase is well positioned to take advantage of opportunities in the market and we are confident in the strength of Sybase's business fundamentals and Sybase's ability to achieve year-end targets," comments Sybase SA CEO Alan Cowley.
"Additionally, we successfully launched a major upgrade to our flagship database, Adaptive Server Enterprise 15.0, which we expect will drive future revenue growth."
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Sybase is the largest global enterprise software company exclusively focused on managing and mobilising information from the data centre to the point of action. Sybase provides open, cross-platform solutions that securely deliver information anytime, anywhere, enabling customers to create an information edge. The world's most critical data in commerce, finance, government, healthcare and defence runs on Sybase.
For more information, visit the Sybase Web site: http://www.sybase.com
Sybase SA
Sybase SA is the sole African representative of Sybase Inc (USA), one of the largest global independent software companies, and has offices across the continent. Sybase's open architecture solutions provide the data management and mobility necessary to create the unwired enterprise.
For more information, visit the Sybase SA Web site: http://www.sybase.co.za
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