Welcome!

Cloud Security Authors: Elizabeth White, Rishi Bhargava, Liz McMillan, Yeshim Deniz, 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.


@ThingsExpo Stories
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.