Database license revenue increased 32%, 18% revenue growth news services
The world's leading enterprise software and mobile software company Sybase (NYSE: SY) today announced that as of September 30, 2009 of the 2009 third quarter financial report, the database license revenues increased 32%, 18% revenue growth news services , calculated according to GAAP, EPS (earnings per share) increased 17% to 0.43 U.S. dollars; not calculated in accordance with GAAP, EPS growth of 16%, up 0.63 U.S. dollars. Meanwhile, the company's management raised full year revenue, earnings and cash flow guidance target.
Highlights:
Third quarter 2009 total revenue, operating income, operating margin, net income, EPS and operating cash flow to achieve a record growth
The third quarter of 2009, the database license revenues increased 32%, at constant exchange rates growth of 35%
The third quarter of 2009, news services revenue grew 18%, at constant exchange rates growth of 23%
In accordance with GAAP (generally accepted accounting principles) basis, third quarter 2009 operating income was 70.9 million U.S. dollars, compared with the same period last year increased 34%, 24% operating margin
Non-GAAP basis, third quarter 2009 operating income was 86.9 million U.S. dollars, compared with the same period last year increased by 28%, operating profit margin of 30%
Calculated according to GAAP, EPS of 0.43 U.S. dollars, compared with the same period last year, up 17%; calculated according to non-GAAP, EPS of 0.63 U.S. dollars, up 16% over the same period last year
The third quarter of 2009, operating cash flow for the 104.9 million U.S. dollars, compared with growth of 95% over the same period last year
2009 Third Quarter Results
Results for the third quarter of 2009, total revenue from last year to 284 million U.S. dollars to 293.4 million U.S. dollars. License revenue from the 92.9 million U.S. dollars last year grew to 96.2 million U.S. dollars. Service revenue 144.4 million U.S. dollars, the message service revenue 52.8 million U.S. dollars.
Foreign exchange rate changes on total revenue of the third quarter, Sybase 3% negative impact. Excluding currency effects, if the license revenue and total revenue growth of 6% over the previous year were.
Calculated according to GAAP, third quarter 2009 operating income was 70.9 million U.S. dollars, compared with growth of 34% over the same period last year, operating margin was 24%.
Sybase announced that by GAAP basis, third quarter 2009 net income from the third quarter of 2008 increased 32.1 million U.S. dollars to 38.5 million U.S. dollars, calculated in accordance with GAAP diluted earnings per share (EPS) from 0.37 in the third quarter of 2008 U.S. dollars to 0.43 U.S. dollars.
Non-GAAP basis, third quarter 2009 operating income was 86.9 million U.S. dollars, compared with growth of 28% over the same period last year, operating profit margin of 30%.
Non-GAAP basis, third quarter 2009 net income reached 56 million U.S. dollars, compared with growth of 18% over the same period last year. Non-GAAP basis, third quarter 2009 compared to same period last year EPS growth of 16% to 0.63 U.S. dollars.
Non-GAAP figures do not include certain purchased intangibles, stock compensation, restructuring charges, losses associated with auction rate securities the cost of employees under the deferred payment plan for the convertible bonds held assets, gains or losses accrued interest and the corresponding tax effect and related matters.
The third quarter of 2009, operating cash flow for the 104.9 million U.S. dollars.
Sybase Chairman, CEO and President Mr. Cheng Shouzong said: "We are very pleased to see the third quarter of 2009, total income, operating margin, net income and operating cash flow reached new highs. We have good performance benefit analysis and information services, solid growth. "
"What we are most encouraged that in this quarter, we with with Verizon, Siemens and IBM's cooperation, building on top of Sybase's mobile application technology to achieve strategic business win-win situation. These alliances strengthen and deepen our in the mobile middleware, mobile device management and mCommerce global leader in the field. "Cheng added.
"The results so far this year even better than expected, we will achieve a record growth for three consecutive years of brilliant performance. Therefore, we again adjusted the 2009 full year financial targets." Cheng concluded.
Balance sheet and other data
As of September 30, 2009, Sybase announced the cash and cash investments 1.2 billion U.S. dollars, including 18 million U.S. dollars in restricted cash.
Third quarter of 2009, Sybase 3.5% completed private placement of convertible bonds, worth 400 million U.S. dollars. Sybase plans to use the net proceeds of private placement to redeem the existing 1.75% convertible bonds. In addition to private in addition, Sybase will repurchase program increased to 150 million U.S. dollars, and spent 70 million U.S. dollars to repurchase its common stock, about 5,000 million to repurchase its 1.75% convertible bonds.
As of September 30, 2009, the Company currently has authorized the repurchase plan were 92.4 million U.S. dollars worth of stock.
Recovery of the third quarter, the number of days accounts receivable (DSO) was 67 days.
Guiding objective
Management expects at December 31, 2009 for the fourth quarter revenues will reach 305 million-310 million U.S. dollars. Management expects total non-GAAP diluted earnings per share (EPS) is from 0.66 to 0.68 U.S. dollars. GAAP earnings per share (EPS) will reach from 0.52 to 0.54 U.S. dollars.
For the year 2009, management will guide the objectives of the total revenue from the previous 1.11-1.12 billion U.S. dollars increased to from 1.14 to 1.15 billion U.S. dollars.
Management will target non-GAAP EPS guidance from the previous 2.23 to 2.27 U.S. dollars raised to 2.33 to 2.35 U.S. dollars; to GAAP EPS from the previous 1.67 to 1.71 U.S. dollars raised to 1.71 to 1.73 U.S. dollars. In addition, management will be the year 2009, operating cash flow increased from 275 million U.S. dollars to 295 million U.S. dollars more than the above.
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