Sybase Beats Estimates Despite a Drop from Last Year

The software maker earns 20 cents a share in a global market it says is "challenging."
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Data software maker

Sybase

(SY) - Get Report

reported lower year-over-year results Tuesday, but bested analysts' expectations for its third quarter.

The firm said excluding certain charges it earned $20 million, or 20 cents a share, on $226.3 million in revenue. Analysts were expecting earnings of 18 cents a share on $221.4 million, according to Thomson Financial/First Call.

For the same period a year ago, Sybase earned $26.7 million, or 29 cents a share on $239.1 million. The company blamed its lower numbers on the state of the world economy.

"The global market during the third quarter was nothing short of challenging," said CEO John Chen in a statement. "Despite the persistent weak economy, we are more competitive today than we have ever been. We are financially solid and will continue managing our business with a focus on the bottom line and improving our profit margins."

Including all charges, the company lost 7 cents a share, or $7.1 million. A year ago, it earned 18 cents a share, or $16.5 million.

During regular trading, Sybase shares traded off slightly, by 4 cents, to $11.51.