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
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...
How to Smash the Reporting Bottleneck
Top 7 reasons why Microsoft Office is the ideal report design, document generation and mail merge tool.
Travelers Migrates Mission-Critical SAS Applications from Solaris to Red Hat Enterprise Linux on HP ProLiant Servers
In 2005, after observing the insurance industry’s growing awareness of and interest in Linux, Travelers began testing the viability of deploying...
OVUM Butler Group Technology Audit: dynaTrace Continuous APM
dynaTrace Continuous APM is an application performance management solution that enables organisations to isolate and fix application performance...
- Trillium Software - Enterprise Data Quality
Avocent - IT Operations Management Solutions
Avocent is a leading global provider of IT operations management solutions for enterprise data centres, small/medium businesses and branch offices...
- AtTask - Project Management Software for the Enterprise
VMware - Virtualisation and Cloud Infrastructure
VMware (NYSE: VMW), the global leader in virtualisation and cloud infrastructure, delivers customer-proven solutions that significantly reduce IT...