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Sybase Q1 Earnings: the Power of 10

Eric Lai, Senior Writer | April 22, 2010 in Uncategorized | Comments (2)

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My college long ago adopted the number 47 as a quantitative mascot. Ask any alumnus and he or she can recount the eerie number of times the number seems to recur.

Based on Sybase’s earnings announced this morning, I nominate that Dublin adopt the number 10 as Sybase’s favorite two-digit integer.

To wit:

- First quarter 2010 was Sybase’s tenth consecutive record quarter, with historical Q1 highs in revenue, operating income, net income, earnings per share and cash flow from operations.

- Revenue grew 10% year-over-year to $294 million.

- Sales of software licenses also grew 10%, propelled by a 25% increase in license revenues for our enterprise databases, including Adaptive Server Enterprise, the BI-focused Sybase IQ, our financial Risk Analytics Platform (RAP), and our CEP offering, which going forward includes the recently-acquired Aleri.

- One Wall Street customer that upgraded its older ASE database to version 15.5 with the new in-memory database option saw a 10x performance increase.

- For the full year 2010, database as well as mobile software revenue are both projected to grow 10% year-over-year.

Not all of Sybase’s notable numbers involved the number 10, of course:

- Revenue from Sybase’s messaging software and services sold to both telcos and enterprises grew 23%.

- Similarly, revenue from our mobile middleware products, Afaria (secures and manages corporate smartphones) and the Sybase Unwired Platform (mobile app development tools), grew a combined 12%.

- Sybase’s revenue for the last 4 quarters, aka its run rate, is$1.2 billion. Despite the difficult economy and currency drops unfavorable to Sybase (half of our business comes outside of North America), the company remains on track for full year 2010 revenue of $1.23 billion, said CEO John Chen (hear his call with Wall Street here).

- Sybase has $1.3 billion in cash and cash investments.

- 15 companies are reselling, or plan to resell, Sybase’s mobile managed software as a service. They include large telcos such as Verizon and Orange, as well as huge integrators like Accenture and Siemens.

- Version 1.5 of the Sybase Unwired Platform, was released in the first quarter.

- So was the aforementioned ASE 15.5, with clustering and in-memory features.

- Operator Analytics 365, a hosted version of Sybase IQ, went live in North America at the beginning of Q2. As the name suggests, Operator Analytics 365 is being aimed at telecom companies.

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2 responses so far ↓

  • 1 Carl Kayser // Apr 22, 2010 at 10:51 am

    Eric, since this blog expresses your own personal viewpoints (vs. corporate), why did Sybase stock go down about 5% with this quarterly report?

  • 2 Eric Lai // Apr 22, 2010 at 2:18 pm

    Hi Carl – due to SEC rules on such things, I shouldn’t give any explicit commentary on our stock. However, I would try our Investor Relations team.

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