Sybase Database Business Grows in Q2
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 billion.
"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."