Computer Business Review
As expected (CI No 2,947), Sybase Inc reported increased losses in its second quarter, but the results were even redder than the company anticipated last month. To combat the loss, Sybase will eliminate around 10%of its 6,100-strong workforce. After a tax provision of about $3m, primarlyto reverse the tax credit taken in the first quarter, the firm reported$24.6m losses after the $20.0m charge resulting from the acquisition of SDPSA, up from $9.2m losses last time. Both North American and European revenues fell below company expectations. Sybase CEO Mark Hoffman saidyesterday, Unfortunately, expenses were predicated on higher anticipated revenues, contributing to the loss for the quarter. Sybase also blamed changes to its sales organization and ineffective marketing for its losses.It will return to profitability as quickly as possible. Sybase reported second quarter net losses of $24.6m up from $9.2m last time which included the $20m acquisition charge on revenues up 4.1% to $249.9m. Mid-term losses were $31.5m up from $26.6m last time, including the above charge and a further $25.0m merger related charge. Revenues were $493.6m up from$456.3m last time.
CommentsPost a comment
Comments may be moderated for spam, obscenities or defamation.
GET CBR'S DAILY MORNING UPDATE
Unable to register now
Trending on CBR
Data Quality Essentials: A Project Manager's Guide to Data Quality
This paper is aimed at project managers and describes the step-by-step process for implementing data quality as part of a project. While...
This paper examines the ways in which organisations can tap into Web 2.0 interaction as part of the marketing strategy and tactics to create...
Storage Economics: Four Principles for Reducing Total Cost of Ownership
Difficult economic times require new perspectives and strategies for reducing the cost of storage infrastructure. The past several years of IT...
Risk & Resilience: The Application Availability Gamble
The modern business is highly dependent on IT. When systems go down, the disruption can be widely felt, and even lead to tangible damage to the...
SDL Tridion - Web Content Management Solutions
SDL Tridion is a global leader in Web Content Management (WCM) solutions.
Teneo - Infrastructure Management, Performance and Virtualization Services
Teneo is an infrastructure optimization company, providing solutions that help customers with the management, performance and virtualization of...
Qualys - IT security risk and compliance solutions
Qualys is the leading provider of on demand IT security risk and compliance solutions - delivered as a service. Qualys solutions enable...
Capscan is a leading supplier of international address management solutions and data integrity services. Capscan has more than 1800 customers...