|By PowerBuilder News Desk||
|January 30, 2009 01:15 PM EST||
Sybase’s Q4 2008 earnings results, just announced, showed a revenue increase of 3% to $305.1 million from $295.2 million in the fourth quarter of 2007 and a total revenue for 2008 increase of 10% year over year to $1.13 billion. This makes it its best quarter and year in company history.
Chairman, CEO, and President of Sybase John Chen stated, “We are extremely proud to deliver our first-ever quarter exceeding $300 million in revenue, as well as record results for our fifth consecutive quarter and second consecutive year.
“The market is responding well to our market-leading mobility and analytics technologies, which has enabled us to gain market share. Sybase's success is driven by our consistently strong execution, compelling product portfolio, and long-standing fiscal conservatism,” Chen added.
“Entering 2009, our competitive position and financial foundation are as strong as they have ever been. This is the result of judiciously investing in our Unwired Enterprise strategy, together with our ongoing efforts to streamline operations and prudently manage company assets. Even as the macro environment holds uncertainty, I am optimistic in our continued ability to execute well,” concluded Chen.
Enjoy SYS-CON's very popular interview with Sybase Chairman, CEO and President, John S. Chen.
(The full Chen interview can also be viewed here on SYS-CON.TV.)
Here are the company's financial results for the fourth quarter and full year ended December 31, 2008, as stated today:
- Total revenue of $305.1 million for Q408 and $1.13 billion for full year
- GAAP operating margin of 23% for Q408 and 19% for full year
- GAAP operating income of $69.8 million for Q408, $210.1 million for full year
- Non-GAAP operating margin of 28% for Q408 and 24% for full year
- Non-GAAP operating income of $85.8 million for Q408, $266.1 million for full year
- GAAP EPS of $1.64 for full year
- Non-GAAP EPS of $0.78 for Q408 and $2.24 for full year
- Cash flow from operations of $84.5 million for Q408 and $295.5 million for full year
- Q408 license revenue up 8% year over year and 13% in constant currency
- 2008 full-year license revenue up 11%, total revenue up 10%
- Database license revenues increased 38% year over year in Q408 and 28% for full year
- GAAP operating income up 4% year over year in Q408 and 25% for full year
- Non-GAAP operating income up 5% year over year in Q408 and 21% for full year
- Full-year cash flow from operations increased 16% year over year
2008 Fourth Quarter Results
Total revenue for the fourth quarter of 2008 increased 3% to $305.1 million from $295.2 million in the fourth quarter of 2007. License revenue grew 8% to $122.1 million from $112.9 million in the fourth quarter of 2007. Services revenue were $139.8 million in the 2008 fourth quarter. Messaging revenues were $43.2 million.
Non-GAAP operating income for the 2008 fourth quarter increased 5% year over year to $85.8 million, representing a 28% operating margin.
Non-GAAP net income for the 2008 fourth quarter was $63.4 million, or earnings per diluted share (EPS) of $0.78, compared with non-GAAP net income of $55.4 million and EPS of $0.61 in the 2007 fourth quarter.
Operating income calculated in accordance with generally accepted accounting principles (GAAP) for the 2008 fourth quarter increased 4% year over year to $69.8 million, representing an operating margin of 23%.
The company reported GAAP net income of $47.3 million, or GAAP EPS of $0.58, for the fourth quarter. This compares with GAAP net income of $73.5 million, or GAAP EPS of $0.81, for the fourth quarter of 2007. Compared to the current quarter, net income for the 2007 fourth quarter reflected a $20.3 million credit to tax expense, which translated into a net $0.22 EPS benefit. This credit was associated with the reversal of valuation allowances on certain U.S. tax assets attributable to the company’s strong U.S. profits. In addition, GAAP net income for 2008 reflects the downward revaluation of auction rate securities.
Non-GAAP amounts exclude the amortization of certain purchased intangibles, stock-based compensation, restructuring costs, charges related to the impairment of auction rate securities, and the tax effect of these and related items. Accompanying this release is a reconciliation from GAAP to non-GAAP amounts for the fourth quarter of 2008 and 12-month period ended December 31, 2008.
The company generated cash flow from operations of $84.5 million for the 2008 fourth quarter.
2008 Full-Year Results
Total revenue for 2008 increased 10% year over year to $1.13 billion, and license revenue for the year increased 11% year over year to $383.7 million. Services revenue increased 5% to $572.1 million, and messaging revenues increased 29% to $176.2 million.
Non-GAAP operating income increased 21% year over year to $266.1 million, representing a non-GAAP operating margin of 24%. Non-GAAP net income grew 20% year over year, reaching $189.0 million, or $2.24 per diluted share.
Full-year GAAP operating income increased 25% year over year to $210.1 million, representing an operating margin of 19%. The company reported GAAP net income of $138.6 million, or GAAP EPS of $1.64.
Cash flow from operations increased 16% year over year to $295.5 million.
Balance Sheet and Other Data
At December 31, 2008, Sybase reported $638.4 million in cash and cash investments, including restricted cash of $2.8 million.
Sybase repurchased $5.4 million of its outstanding common stock during the fourth quarter and a total of $306.1 million for the year. As of December 31, 2008, $77.5 million remained authorized under the company’s current share repurchase program.
Days sales outstanding (DSO) for the fourth quarter was 80.
For the first quarter ending March 31, 2009, management anticipates total revenue in the range of $260 million to $270 million. Management anticipates non-GAAP fully diluted EPS in the range of $0.40 to $0.42 and GAAP EPS in the range of $0.27 to $0.29.
For full-year 2009, management anticipates total revenue of approximately $1.14 billion. Management anticipates non-GAAP EPS in the range of $2.16 to $2.21 and GAAP EPS in the range of $1.62 to $1.67. Management anticipates full-year 2009 cash flow from operations of approximately $250 million.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Oct. 13, 2015 12:30 PM EDT
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
Oct. 13, 2015 12:00 PM EDT Reads: 205
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of at least three separate application components: the software embedded in the device, the backend big-data service, and the mobile application for the end user's controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target - this makes the integration of these separate pipelines and the coordination of software upd...
Oct. 13, 2015 12:00 PM EDT Reads: 411
As a company adopts a DevOps approach to software development, what are key things that both the Dev and Ops side of the business must keep in mind to ensure effective continuous delivery? In his session at DevOps Summit, Mark Hydar, Head of DevOps, Ericsson TV Platforms, will share best practices and provide helpful tips for Ops teams to adopt an open line of communication with the development side of the house to ensure success between the two sides.
Oct. 13, 2015 12:00 PM EDT Reads: 692
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll share tips on how to speed up business initiatives, harness Big Data and remain one step ahead by apply...
Oct. 13, 2015 12:00 PM EDT Reads: 745
There will be 20 billion IoT devices connected to the Internet soon. What if we could control these devices with our voice, mind, or gestures? What if we could teach these devices how to talk to each other? What if these devices could learn how to interact with us (and each other) to make our lives better? What if Jarvis was real? How can I gain these super powers? In his session at 17th Cloud Expo, Chris Matthieu, co-founder and CTO of Octoblu, will show you!
Oct. 13, 2015 12:00 PM EDT Reads: 278
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context w...
Oct. 13, 2015 11:00 AM EDT Reads: 303
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will explore the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Oct. 13, 2015 11:00 AM EDT Reads: 317
SYS-CON Events announced today that Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, will keynote at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 13, 2015 10:00 AM EDT Reads: 248
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server, storage technology and green computing, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermi...
Oct. 13, 2015 09:30 AM EDT Reads: 203
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 13, 2015 07:00 AM EDT Reads: 6,011
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
Oct. 13, 2015 04:00 AM EDT Reads: 682
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete end-to-end walkthrough of the analysis from start to finish. Participants will also be given the pract...
Oct. 13, 2015 03:00 AM EDT Reads: 407
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Oct. 13, 2015 03:00 AM EDT Reads: 258
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Oct. 13, 2015 12:45 AM EDT Reads: 852
Electric power utilities face relentless pressure on their financial performance, and reducing distribution grid losses is one of the last untapped opportunities to meet their business goals. Combining IoT-enabled sensors and cloud-based data analytics, utilities now are able to find, quantify and reduce losses faster – and with a smaller IT footprint. Solutions exist using Internet-enabled sensors deployed temporarily at strategic locations within the distribution grid to measure actual line loads.
Oct. 13, 2015 12:00 AM EDT Reads: 273
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 12, 2015 11:15 PM EDT Reads: 7,128
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, along with new ways to engage with users.
Oct. 12, 2015 06:00 PM EDT Reads: 262
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Oct. 12, 2015 05:30 PM EDT Reads: 1,227
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Oct. 12, 2015 03:00 PM EDT Reads: 1,489