Sybase reports a strong second quarter, with profits increasing 26 percent year over year. Some of that can be attributed to Sybase's database business, which released a new version of Sybase IQ earlier in 2009.
Sybase on July 21 reported double-digit growth in its database business as
part of a solid second quarter.
According to the company, database license revenue increased 23 percent year
over year. Overall, Sybase's second-quarter profit jumped 26 percent to $37.6
million, up from $29.8 million a year earlier.
"We are pleased to deliver another record performance in these
challenging economic times, highlighted by second quarter all-time highs in
operating margin, net income and cash flow, as well as double-digit growth in
database license revenue, operating income and earnings," CEO
John Chen said in a statement.
The company also saw 4 percent growth in mobile software licensing. The
total revenue for the second quarter was $278 million, down slightly from
$282.7 million for the same period in 2008. Overall services and licensing
revenues were $139 million and $94.1 million respectively. The company's
messaging business stood at $44.2 million for the quarter.
Due to the company's performance in the first half of the fiscal year,
Sybase officials said they are raising total revenue guidance to a range of
$1.11 billion to $1.12 billion from prior expectations of approximately $1.10
"During the quarter, we launched risk analytics with time series
capabilities, expanded partnerships with the Sybase Unwired Platform, and were
selected to provide the technology platform on a number of mBanking and
mCommerce opportunities," Chen said. "Due to our
stronger-than-expected performance in the first half of this year, we are raising
our full-year 2009 financial guidance for the second time this year."