Click here to close now.




















Welcome!

@CloudExpo Authors: Dana Gardner, Eric Aarrestad, Liz McMillan, Adrian Bridgwater, Pat Romanski

Related Topics: PowerBuilder

PowerBuilder: Article

Sybase Reports All-Time Best Ever Quarter and Year

Database License Growth of 28% and Messaging Growth of 29%

Sybase’s Q4 2008 earnings results, just announced, showed a revenue increase of 3% to $305.1 million from $295.2 million in the fourth quarter of 2007 and a total revenue for 2008 increase of 10% year over year to $1.13 billion. This makes it its best quarter and year in company history.

Chairman, CEO, and President of Sybase John Chen stated, “We are extremely proud to deliver our first-ever quarter exceeding $300 million in revenue, as well as record results for our fifth consecutive quarter and second consecutive year.

“The market is responding well to our market-leading mobility and analytics technologies, which has enabled us to gain market share. Sybase's success is driven by our consistently strong execution, compelling product portfolio, and long-standing fiscal conservatism,” Chen added.

“Entering 2009, our competitive position and financial foundation are as strong as they have ever been. This is the result of judiciously investing in our Unwired Enterprise strategy, together with our ongoing efforts to streamline operations and prudently manage company assets.  Even as the macro environment holds uncertainty, I am optimistic in our continued ability to execute well,” concluded Chen.

Enjoy SYS-CON's very popular interview with Sybase Chairman, CEO and President, John S. Chen.
(The full Chen interview can also be viewed here on SYS-CON.TV.)

Here are the company's financial results for the fourth quarter and full year ended December 31, 2008, as stated today:

Record Achievements:

  • Total revenue of $305.1 million for Q408 and $1.13 billion for full year
  • GAAP operating margin of 23% for Q408 and 19% for full year
  • GAAP operating income of $69.8 million for Q408, $210.1 million for full year
  • Non-GAAP operating margin of 28% for Q408 and 24% for full year
  • Non-GAAP operating income of $85.8 million for Q408, $266.1 million for full year
  • GAAP EPS of $1.64 for full year
  • Non-GAAP EPS of $0.78 for Q408 and $2.24 for full year
  • Cash flow from operations of $84.5 million for Q408 and $295.5 million for full year

Other Highlights:

  • Q408 license revenue up 8% year over year and 13% in constant currency
  • 2008 full-year license revenue up 11%, total revenue up 10%
  • Database license revenues increased 38% year over year in Q408 and 28% for full year
  • GAAP operating income up 4% year over year in Q408 and 25% for full year
  • Non-GAAP operating income up 5% year over year in Q408 and 21% for full year
  • Full-year cash flow from operations increased 16% year over year

2008 Fourth Quarter Results
Total revenue for the fourth quarter of 2008 increased 3% to $305.1 million from $295.2 million in the fourth quarter of 2007.   License revenue grew 8% to $122.1 million from $112.9 million in the fourth quarter of 2007.  Services revenue were $139.8 million in the 2008 fourth quarter.  Messaging revenues were $43.2 million.

Non-GAAP operating income for the 2008 fourth quarter increased 5% year over year to $85.8 million, representing a 28% operating margin.

Non-GAAP net income for the 2008 fourth quarter was $63.4 million, or earnings per diluted share (EPS) of $0.78, compared with non-GAAP net income of $55.4 million and EPS of $0.61 in the 2007 fourth quarter.

Operating income calculated in accordance with generally accepted accounting principles (GAAP) for the 2008 fourth quarter increased 4% year over year to $69.8 million, representing an operating margin of 23%.

The company reported GAAP net income of $47.3 million, or GAAP EPS of $0.58, for the fourth quarter.  This compares with GAAP net income of $73.5 million, or GAAP EPS of $0.81, for the fourth quarter of 2007.  Compared to the current quarter, net income for the 2007 fourth quarter reflected a $20.3 million credit to tax expense, which translated into a net $0.22 EPS benefit.  This credit was associated with the reversal of valuation allowances on certain U.S. tax assets attributable to the company’s strong U.S. profits.  In addition, GAAP net income for 2008 reflects the downward revaluation of auction rate securities.

Non-GAAP amounts exclude the amortization of certain purchased intangibles, stock-based compensation, restructuring costs, charges related to the impairment of auction rate securities, and the tax effect of these and related items.  Accompanying this release is a reconciliation from GAAP to non-GAAP amounts for the fourth quarter of 2008 and 12-month period ended December 31, 2008.

The company generated cash flow from operations of $84.5 million for the 2008 fourth quarter.

2008 Full-Year Results
Total revenue for 2008 increased 10% year over year to $1.13 billion, and license revenue for the year increased 11% year over year to $383.7 million.  Services revenue increased 5% to $572.1 million, and messaging revenues increased 29% to $176.2 million.

Non-GAAP operating income increased 21% year over year to $266.1 million, representing a non-GAAP operating margin of 24%.  Non-GAAP net income grew 20% year over year, reaching $189.0 million, or $2.24 per diluted share.

Full-year GAAP operating income increased 25% year over year to $210.1 million, representing an operating margin of 19%.  The company reported GAAP net income of $138.6 million, or GAAP EPS of $1.64.

Cash flow from operations increased 16% year over year to $295.5 million.

Balance Sheet and Other Data
At December 31, 2008, Sybase reported $638.4 million in cash and cash investments, including restricted cash of $2.8 million.

Sybase repurchased $5.4 million of its outstanding common stock during the fourth quarter and a total of $306.1 million for the year.  As of December 31, 2008, $77.5 million remained authorized under the company’s current share repurchase program.

Days sales outstanding (DSO) for the fourth quarter was 80.

Guidance
For the first quarter ending March 31, 2009, management anticipates total revenue in the range of $260 million to $270 million. Management anticipates non-GAAP fully diluted EPS in the range of $0.40 to $0.42 and GAAP EPS in the range of $0.27 to $0.29.

For full-year 2009, management anticipates total revenue of approximately $1.14 billion.  Management anticipates non-GAAP EPS in the range of $2.16 to $2.21 and GAAP EPS in the range of $1.62 to $1.67.  Management anticipates full-year 2009 cash flow from operations of approximately $250 million.

More Stories By PowerBuilder News Desk

PBDJ News Desk monitors the world of PowerBuilder to present IT professionals with updates on technology advances, business trends, new products and standards in the PowerBuilder and i-technology space.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


@CloudExpo Stories
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with ...
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.