Sybase, Inc a leading provider of enterprise infrastructure and mobile software, reported that total revenues for the quarter increased 9% to $204.4 million from total revenues of $188 million for the second quarter of 2004.
Licence revenues increased 12% to $67.9 million for the second quarter ended 30 June 2005 compared with the same quarter a year ago.
Pro forma operating income for the second quarter of 2005 increased to $34.3 million, representing 17% operating margin, compared with pro forma operating income of $23.1 million, or 12% operating margin, for the second quarter of 2004.
Operating income for the 2005 second quarter calculated in accordance with generally accepted accounting principles (GAAP) increased to $28.1 million, representing 14% operating margin, compared with operating income of $16 million, or 8% operating margin for the second quarter of 2004.
Pro forma net income for the second quarter reached $25 million, or earnings of $0.27 per share on a diluted basis (EPS). This compares with pro forma net income of $17.3 million, or EPS of $0.18 for the second quarter of 2004. GAAP net income for the second quarter of 2005 was $15.9 million, or EPS of $0.17. This compares with GAAP net income of $12.8 million, or EPS of $0.13 for the second quarter of 2004. Pro forma amounts exclude amortisation of certain expenses including certain purchased intangibles, unearned stock-based compensation, and restructuring costs.
"We're very pleased with the better-than-expected results this quarter, as we executed well across all segments of our business," said John Chen, chairman, CEO and president of Sybase. "Our flagship database business continued to generate strong licence revenue gains this quarter and the mobile/wireless segment remains a healthy growth driver."
Furthermore, cash flow from operations remains strong, and operating margins improved significantly year-over-year, even as we invested in two technology acquisitions and increased headcount.
"Locally, we're following the international trend and we are very positive about our future growth opportunities, given the strong business momentum of the company," says Sybase SA CEO Alan Cowley.
"Everything came together well this quarter. The business pipeline appears solid, the sales execution is strong, and our leading-edge technology is winning new customers. We have many reasons to be optimistic about our prospects for the future," Cowley concluded.
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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 at 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 at http://www.sybase.co.za.
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