Sybase Reports Record Second Quarter Results
Sybase, Inc. (NYSE: SY), an industry leader in enterprise and mobile software, today reported financial results for the second quarter ended June 30, 2010.
2010 Second Quarter Results
Total revenue for the second quarter of 2010 grew 9% to $302.0 million, compared to $278.0 million in the second quarter of 2009. License revenue grew 6% to $100.1 million, compared to $94.1 million in the second quarter of 2009. Services revenue grew 5% to $147.2 million, and messaging revenue grew 24% to $54.8 million in the second quarter of 2010.Operating income calculated in accordance with generally accepted accounting principles (GAAP) for the second quarter increased 17% year over year to $74.3 million, representing an operating margin of 25%. For the quarter, GAAP net income grew 20% year over year to $45.3 million. GAAP earnings per diluted share (EPS) grew 19% year over year to $0.51. Non-GAAP operating income for the second quarter of 2010 increased 17% year over year to $91.2 million, representing a 30% operating margin. Non-GAAP net income for the second quarter grew 20% year over year to $59.1 million. Non-GAAP EPS grew 18% year over year to $0.66. Non-GAAP amounts exclude the amortization of certain purchased intangibles, stock-based compensation, restructuring costs, charges related to the impairment of auction rate securities, imputed interest related to our convertible debt, gains or losses on assets held for employees in a deferred compensation plan, transaction costs relating to the pending tender offer from a subsidiary of SAP America, Inc. to purchase all of our outstanding stock, and the tax effect of these and related items.
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