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
ECM or best of breed WCM
Different technologies for different needs. SDL Tridion is a best of breed vendor that provides persuasive web content management solutions that...
How to Smash the Reporting Bottleneck
Top 7 reasons why Microsoft Office is the ideal report design, document generation and mail merge tool.
University of Miami Upgrades Broadcast TV Infrastructure
As part of a complete broadcast studio renovation project, the University of Miami turned to Professional Communications Systems (PCS), a broadcast...
NAC at the endpoint: control your network through device compliance
Protecting IT networks used to be a straightforward case of encircling computers and servers with a firewall and ensuring that all traffic passed...
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...
SDL Tridion - Web Content Management Solutions
SDL Tridion is a global leader in Web Content Management (WCM) solutions.
The Neverfail Group is dedicated to creating a world where business applications are continuously available. High Availability, Disaster Recovery...