Sybase Reports Solid Q1 2006 Results, Driven by 30% Growth in
Mobile & Wireless
Business
DUBLIN, Calif. April 27, 2006 Sybase, Inc. (NYSE: SY), a leading
provider of enterprise infrastructure and mobile software, today
reported financial results for the first quarter ended March 31,
2006.
Highlights:
Credit Pacific Service Union * Pro Forma EPS increased 14% to $0.25, beating analyst
consensus estimates
* GAAP EPS increased 36% to $0.19
* Total license revenues increased 7% year-over-year
* Mobile & wireless license revenues increased 49%
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Credit First Service Union For the 2006 first quarter, total license revenue increased 7%
to $66.9 million from $62.7 million in the first quarter of 2005.
Total revenues for the 2006 first quarter increased 2% to $195.0
million from $191.9 million for the first quarter of 2005.
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Card Credit Mobile Service Operating income calculated in accordance with generally
accepted accounting principles (GAAP) for the first quarter of 2006
was $18.9 million, compared with GAAP operating income of $20.3
million for the year-ago quarter. Results for the 2006 first
quarter include the impact of $3.5 million associated with
implementation of FAS 123R. GAAP net income for the 2006 first
quarter increased 30% to $17.3 million, or GAAP EPS of $0.19,
compared with GAAP net income of $13.3 million, or GAAP EPS of
$0.14 for the 2005 first quarter.
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Card Credit Discover Service Pro forma operating income was $28.4 million, compared with pro
forma operating income of $28.1 million in the first quarter of
2005. Pro forma net income for the first quarter increased 10% to
$22.7 million, or earnings per diluted share of $0.25. This
compares with pro forma net income of $20.6 million, or earnings
per diluted share of $0.22, for the 2005 first quarter.
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Credit Public Service Union Pro forma amounts exclude amortization of certain expenses
including certain purchased intangibles, stock-based compensation,
and restructuring costs. Accompanying this release is a
reconciliation of pro forma and GAAP amounts for the 2006 first
quarter.
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Card Credit Processing Service Were very pleased with the ongoing strength of our mobile and
wireless business, with license revenues increasing 49% year over
year, said John Chen, chairman, CEO, and president of Sybase.
Performance was driven by accelerating demand for our mobile
database, device and security management, AvantGo on-demand
services, as well as the recent acquisition of Extended
Systems.
Center Credit Service Union Added Mr. Chen, We expect solid growth in our data management
business in the second half of this year. We believe this growth
will be principally driven by ASE 15.0 and its options, including
encryption and partitioning, combined with strength in those
solutions that help customers
extract data from various data sources and make that information
available to the mobile worker.
Card Credit Service Wireless Based on these results and the strength of our fundamentals, we
remain confident in our ability to achieve our revenue, margin,
cash flow, and profitability targets for the year, concluded Mr.
Chen.
Credit Security Service Union Balance Sheet and Other Data
At March 31, 2006, Sybase reported $907.8 million in cash and cash
investments, including
restricted cash of $5.3 million. The company generated $73.4
million in cash flow from operations in the first quarter.
Credit Report Service Sybase repurchased approximately $24.7 million worth of its
stock during the 2006 first quarter. As of March 31, 2006,
approximately $34.9 million remained authorized in the companys
current share repurchase program.
Blogspot Com Christian Days sales outstanding for the first quarter was 63
days.
Christian Counseling Credit Forward Guidance
For the second quarter ended June 30, 2006, management anticipates
revenues will range from $210 to $215 million, with pro forma fully
diluted EPS of approximately $0.30. GAAP EPS is estimated to be
approximately $0.24, which would include the impact of expensing
options under FAS 123R.
Credit Federal Service Union For the 12-month period ended December 31, 2006, management
estimates total revenue growth of 6%, fully diluted pro forma EPS
of approximately $1.29, GAAP EPS of approximately $1.07, and cash
flow from operations of approximately $170 million.
Credit Monitoring Service Conference Call and Webcast Information
The Sybase 2006 first quarter conference call and simultaneous
Webcast is scheduled to begin at 7:30 a.m., Pacific Time/10:30 a.m.
Eastern Time, on Thursday, April 27, 2006. To access the live
Webcast, please visit www.fulldisclosure.com or Sybases Website at
www.sybase.com at least 20 minutes prior to the call to download
any necessary audio or plug-in software. A telephone replay will be
available approximately two hours after the conference call ends
and will be available until 10:00 p.m. Pacific Time on May 4, 2006.
To access the replay, please dial (888) 203-1112 for domestic
access and (719) 457-0820 for international callers; the access
code for the telephone replay is #3767734. Additionally, the
archived Webcast will be available through July 19, 2006 at
http://www.sybase.com/about_sybase/investorrelations.
Credit Division Service About Sybase, Inc.
Sybase is the largest global enterprise software company
exclusively focused on managing and mobilizing information from the
data center to the point of action. Sybase provides open,
cross-platform solutions that securely deliver information anytime,
anywhere, enabling customers to create an information edge. The
worlds most critical data in commerce, finance, government,
healthcare, and defense runs on Sybase. For more information, visit
the Sybase Website at http://www.sybase.com.
Card Credit Online Service Forward-Looking Statements
Certain statements in this release concerning Sybase, Inc. and its
prospects and future growth are forward-looking and involve a
number of uncertainties and risks. Factors that could cause actual
events or results to differ materially from those suggested by
these forward-looking statements include, but are not limited to,
the performance of the global economy and growth in software
industry sales; market acceptance of the companys products and
services; customer and industry analyst perception of the company
and its technology vision and future prospects; the success of
certain business combinations engaged in by the company or by
competitors; political unrest or acts of war; possible disruptive
effects of organizational or personnel changes; and other factors
described in Sybase, Inc.s reports filed with the U.S. Securities
and Exchange Commission, including its annual report on Form 10-K
for the year ended December 31, 2005.
Consumer Counseling Credit Inc Sybase Q1 2006 Announcement Highlights
Card Credit Fleet Service Sybase announcements during the first quarter of 2006
underscored the companys leadership in the mobile marketplace,
including the announcement of RFID Enterprise 2.0 a comprehensive
RFID solution that enables companies to meet the design, deployment
and integration challenges presented by enterprise-scale RFID
deployments. Sybase was honored with the 2005 LinuxWorld Magazine
Readers Choice Award for Best Linux Database, with Adaptive Server
Enterprise (ASE) triumphing over offerings from MySQL, Oracle, and
Ingres/Computer Associates. Also, Sybase announced PowerDesigner
12.0, an all-in-one modeling and design solution for enterprises
that need to build or re-engineer business applications quickly,
cost-effectively and consistently.
Card Consolidation Credit Mobile Enterprise Initiatives
Credit Free Online Report * Debuted RFID Enterprise 2.0, a comprehensive RFID solution
that enables companies to meet the design, deployment and
integration challenges presented by enterprise-scale RFID
deployments:
http://www.sybase.com/detail?id=1039486
* Achieved certified integration of RFID Anywhere 2.0 with SAPs
Auto-ID Infrastructure (AII), allowing end-users easier access and
increased ability to manage collected data from various RFID
devices:
http://www.sybase.com/detail?id=1038931
* Introduced new version of Afaria frontline management and
security solution with expanded breadth of functionality available
for managing mobile devices:
http://www.sybase.com/detail?id=1039955
* Debuted RFID Anywhere Appliance Edition which brings
intelligence and manageability to RFID devices, enhancing
performance and reducing operating costs for enterprises deploying
RFID solutions:
http://www.sybase.com/detail?id=1039177
* Introduced general availability of the AvantGo Travel Guide,
further demonstrating the companys dedication to offering
applications that will enable business professionals to have always
available access to important information:
http://www.sybase.com/detail?id=1039898
* Announced availability of the AvantGo Windows Mobile Smartphone
beta, enabling Windows Mobile Smartphone with access to over a
thousand websites optimized for reading on their phone, including
news, weather, sports, and more from the worlds leading
media:
http://www.sybase.com/detail?id=1039968
* Unveiled RFID University, a series of free technical webcasts
targeted to educate developers on various aspects of RFID
development to enable them to jumpstart their RFID projects; RFID
University sponsors include leading industry vendors AWID,
Printronix, Symbol Technologies, ThingMagic and Zebra:
http://www.sybase.com/detail?id=1039498
* Joined UWB Forum and WiMedia Alliance Ultrawideband standards
bodies to offer customers high-bandwidth, short-range wireless
communications:
http://www.sybase.com/detail?id=1038817
Credit Federal First Service Database/Developer Initiatives
Consumer Credit Service * Announced general availability of Quest Softwares Sybase
Database Expert Option and Sybase SQL Expert Option for Sybase ASE
15.0 to help deliver optimal database performance and enable rapid
migration to ASE 15:
http://www.sybase.com/detail?id=1039254
* Announced PowerDesigner 12.0, an all-in-one modeling and design
solution for enterprises that need to build or re-engineer business
applications quickly, cost-effectively and consistently:
http://www.sybase.com/detail?id=1038932
* Announced its Advantage Developer Days 2006 seminar series to
provide developers with in-depth knowledge on how to use and
exploit the new and improved features introduced in Advantage
8.0:
http://www.sybase.com/detail?id=1039897
Center Credit Family Service New Customers and Partners
Credit Reporting Service * Announced that by using Sybase IQ at the core of its new high
speed version of TrueStandings Securities, LoanPerformance, a
subsidiary of First American
Real
Estate Solutions and a leader in residential mortgage
data and analytics, can run analyses and reports up to one hundred
times faster than previous generations:
http://www.sybase.com/detail?id=1038937
* Created a partnership with Applied Wireless Identifications,
Inc. to jointly develop next generation intelligent RFID
readers:
http://www.sybase.com/detail?id=1039179
Cca Credit Division Service Industry Accolades:
Credit Free Report Service * Received the 2005 LinuxWorld Magazine Readers Choice Award for
Best Linux Database, ASE triumphed over offerings from MySQL,
Oracle and Ingres/Computer Associates:
http://www.sybase.com/detail?id=1038952
* Honored by CCID Consulting and China Computer Users Magazine at
the China IT Users Annual Conference with four prestigious for
Sybase ASE and Sybase IQ
* Received recognition from leading IT market research advisory
firm IDC as the leader in mobile device management enterprise
software with higher revenues and market share in a top 10 list
that makes up more than three-fourths of the market and is
dominated by large systems management vendors:
http://www.sybase.com/detail?id=1038819
* Awarded MobileTraxs annual 2006 Mobility Awards for the AvantGo
mobile Internet service and Sybases acquisition of Extended
Systems:
http://www.sybase.com/detail?id=1039250
Card Credit Customer Discover Sybase, Adaptive Server Enterprise, Afaria, AvantGo,
PowerDesigner, and RFID Anywhere are trademarks of Sybase, Inc. or
its subsidiaries. All other names may be trademarks of the
companies with which they are associated.
Credit Repair Report Service Source: Sybase
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