HONG KONG, 3 FEBRUARY 2009 – Sybase yesterday reported that its 10 per cent full-year revenue growth in 2008 was largely driven by the growth in database licence and messaging service.
Sybase, the US-based provider of enterprise infrastructure and mobile software, has released financial results for the fourth quarter and full year ended 31 December 2008.
2008 fourth quarter results
Total revenue for the fourth quarter of 2008 increased three per cent to US$305.1 million from US$295.2 million in the fourth quarter of 2007. Licence revenue grew eight per cent to US$122.1 million from US$112.9 million in the fourth quarter of 2007. Services revenues were US$139.8 million in the 2008 fourth quarter. Messaging revenues were US$43.2 million.
Non-GAAP (generally accepted accounting principles) operating income for the 2008 fourth quarter increased five per cent year-over-year to US$85.8 million, representing a 28 per cent operating margin.
Non-GAAP net income for the 2008 fourth quarter was US$63.4 million, or earnings per diluted share (EPS) of US$0.78, compared with non-GAAP net income of US$55.4 million and EPS of US$0.61 in the 2007 fourth quarter.
The company generated cash flow from operations of US$84.5 million for the 2008 fourth quarter.
2008 full-year results
Total revenue for 2008 increased 10 per cent year-over-year to US$1.13 billion, and licence revenue for the year increased 11 per cent year-over-year to US$383.7 million. Services revenue increased five per cent to US$572.1 million, and messaging revenues increased 29 per cent to US$176.2 million.
Non-GAAP operating income increased 21 per cent year-over-year to US$266.1 million, representing a non-GAAP operating margin of 24 per cent. Non-GAAP net income grew 20 per cent year-over-year, reaching US$189.0 million, or US$2.24 per diluted share.
Full-year GAAP operating income increased 25 per cent year-over-year to US$210.1 million, representing an operating margin of 19 per cent. The company reported GAAP net income of US$138.6 million, or GAAP EPS of US$1.64.
Cash flow from operations increased 16 per cent year over year to US$295.5 million.
