Sybase Reports Lower 2Q Sales, Profits

Sybase reported net income of $14.6 million, or 16 cents per share, for the quarter, down from earnings of $20.2 million, of 21 cents per share, in the same period a year ago. Revenue was $192.0 million, down more than 6% from the year-ago quarter. License fees dropped 17%, to $63.9 million, while service-related revenue edged up less than 1%, to $128.1 million.

Mobile and wireless products and services accounted for about $22 million to $23 million in sales for the second quarter, president and CEO John Chen says. He expects sales of those products and services, including software from AvantGo Inc., which Sybase acquired earlier this year, to exceed $100 million for all of 2003. The company is also expanding its efforts to sell Sybase software for Wi-Fi projects.

Chen says portal software and technology for business-intelligence and data warehouse projects are in demand.

This story courtesy of InformationWeek.