Sybase Reports Fourth Quarter And Year-End Results

Sybase, Inc. reported fourth quarter earnings per share (EPS) of $0.32 compared to analysts expectations of $0.21 EPS for the quarter ended December 31, 1999 and $0.76 EPS for the year ended December 31, 1999, exceeding analysts expectations of $0.62 EPS.

Net income for the fourth quarter of 1999 was $26 million as compared to a net loss of $15 million for the same period in 1998. Quarter-on-quarter, total revenues increased by 9.7 percent to $237 million in the fourth quarter from $216 million in the third quarter of 1999. Cash and investments at year end were $353 million, as compared to $250 million in 1998 - a 41 percent increase. Days sales outstanding for the fourth quarter was 69 days.

"The fourth quarter was the second most profitable quarter and 1999 was the second most profitable year in Sybase's history," said John Chen, Sybase chairman, president, and chief executive officer. "Our results clearly demonstrate that we have effectively executed against our 1999 business objectives. We enter Year 2000 with a strong balance sheet and a clear vision of the three areas driving our growth," said Chen. "Those are the Enterprise Portal market, where we aim to be the pre-eminent supplier e-commerce software infrastructure; the wireless and mobile solutions arena; and e-Business solutions for vertical markets, including financial services, telecommunications and media, health care, and government markets."

For more information, visit http://www.sybase.com.