Sybase sales cross $926m in 2001
By Our Convergence Bureau | 12 Mar 2002
Mumbai: Sybase Inc (www.sybase.com), a leading e-business infrastructure and database provider, reported fourth quarter revenues of $236.3 million, compared to fourth quarter revenues of $260.5 million last year. Total revenues for the full year 2001 were $926.1 million, compared to $960.5 million reported for 2000.
“Sybase's solid fourth quarter performance allowed us to exit 2001 on a high-note,“ says Sybase chairman, president and CEO John Chen. “I am very pleased with the strong foundation we have laid for 2002. Investments in our strategic initiatives are showing positive results with our Financial Fusion subsidiary reporting positive operating earnings for the first time, and iAnywhere Solutions reporting its strongest revenue and operating profit ever.“
Sybase ended 2001 with $346.6 million in cash and cash investments, including restricted cash of $3.4 million. This represents approximately $3.51 of cash per issued and outstanding share at the end of the fourth quarter. Sybase continued to repurchase its stock during the fourth quarter, and had approximately $140 million of its current share repurchase authorisation remaining at the year-end. Days sales outstanding for the three months ending 31 December 2001 was 71 days.
Sybase continued to win competitive deals in the fourth quarter across numerous market segments. In the financial services market, Sybase leveraged its solid reputation on Wall Street to win customers such as Guardian Life Insurance, ADP, Merrill Lynch, West LB Panmure, New York Mercantile Exchange, California Federal Bank, Cendant Corporation, and Moore Capital. Sybase also added several customers to its growing healthcare roster, including Synavant, eCHN (Electronic Child Health Network), HealthNow, and Physician's Tele Network.
Other successful customer wins came from the telecommunications sector, which included Gan Su Telecom Sichuan, Shan Xi Telecom, Xin Jiang Telecom, ChungHwa Telecom Co Ltd, and Globe Telecom. Sales to federal, state and foreign governments remained strong in the fourth quarter with sales to the Food and Drug Administration, the state of Oklahoma, the land transportation office of the Philippines, the land registration authority of the Philippines, the ministry of government administration and home affairs of Korea.
In other market segments, Sybase had a number of competitive wins, including Rational Software, Alvion Technologies, Lowe's Companies, Daimler-Chrysler, C-NET and DTI Publishing. Sybase also continued its strong sales presence in India with competitive wins including Federal Bank, HDFC Bank, Tata Teleservices and Indian Overseas Bank.
About Sybase
Sybase is the enterprise infrastructure company that bridges heterogeneous technologies. With industry-leading enterprise portal (EP), mobile and wireless solutions, essential integration products, and high performance database management systems, Sybase is one of the largest independent software companies in the world.
About Sybase India
Sybase has been operating in India since 1989, and presently serves over 2,000 customers in the country. Major customers in India include: The Bombay Stock Exchange, the Raymond group, Development Credit Bank, HDFC Bank, Indian Overseas Bank, Tata AIG, Tata Teleservices, Kotak Mahindra and ICICI.
“Sybase's solid fourth quarter performance allowed us to exit 2001 on a high-note,“ says Sybase chairman, president and CEO John Chen. “I am very pleased with the strong foundation we have laid for 2002. Investments in our strategic initiatives are showing positive results with our Financial Fusion subsidiary reporting positive operating earnings for the first time, and iAnywhere Solutions reporting its strongest revenue and operating profit ever.“Sybase ended 2001 with $346.6 million in cash and cash investments, including restricted cash of $3.4 million. This represents approximately $3.51 of cash per issued and outstanding share at the end of the fourth quarter. Sybase continued to repurchase its stock during the fourth quarter, and had approximately $140 million of its current share repurchase authorisation remaining at the year-end. Days sales outstanding for the three months ending 31 December 2001 was 71 days.
Sybase continued to win competitive deals in the fourth quarter across numerous market segments. In the financial services market, Sybase leveraged its solid reputation on Wall Street to win customers such as Guardian Life Insurance, ADP, Merrill Lynch, West LB Panmure, New York Mercantile Exchange, California Federal Bank, Cendant Corporation, and Moore Capital. Sybase also added several customers to its growing healthcare roster, including Synavant, eCHN (Electronic Child Health Network), HealthNow, and Physician's Tele Network.Other successful customer wins came from the telecommunications sector, which included Gan Su Telecom Sichuan, Shan Xi Telecom, Xin Jiang Telecom, ChungHwa Telecom Co Ltd, and Globe Telecom. Sales to federal, state and foreign governments remained strong in the fourth quarter with sales to the Food and Drug Administration, the state of Oklahoma, the land transportation office of the Philippines, the land registration authority of the Philippines, the ministry of government administration and home affairs of Korea.
In other market segments, Sybase had a number of competitive wins, including Rational Software, Alvion Technologies, Lowe's Companies, Daimler-Chrysler, C-NET and DTI Publishing. Sybase also continued its strong sales presence in India with competitive wins including Federal Bank, HDFC Bank, Tata Teleservices and Indian Overseas Bank.
About Sybase
Sybase is the enterprise infrastructure company that bridges heterogeneous technologies. With industry-leading enterprise portal (EP), mobile and wireless solutions, essential integration products, and high performance database management systems, Sybase is one of the largest independent software companies in the world.
About Sybase India
Sybase has been operating in India since 1989, and presently serves over 2,000 customers in the country. Major customers in India include: The Bombay Stock Exchange, the Raymond group, Development Credit Bank, HDFC Bank, Indian Overseas Bank, Tata AIG, Tata Teleservices, Kotak Mahindra and ICICI.