Welcome!

@CloudExpo Authors: Liz McMillan, Elizabeth White, William Schmarzo, Pat Romanski, Yeshim Deniz

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
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, w...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.