Sybase Cuts Costs, Boosts Profits
Bolstered by an increase in software license sales and tight cost controls, database vendor Sybase Inc. today reported a big jump in third-quarter profits. Net income for the quarter, which ended Sept. 30, reached $16.1 million, compared with $2.2 million in the same period one year ago.
For the quarter, Sybase tallied revenue of $216.1 million, up 2.8% over third-quarter sales of $210.3 million last year. Product license revenue, which actually decreased year-over-year in this year's second quarter, increased to $104.2 million from $98.8 million last year. Service-related revenue for the quarter grew slightly to $111.9 million from $111.5 million last year.
Much of Sybase's improved profitability in the most recent period was due to cost cutting. During the quarter, the company spent less on sales and marketing, service, and product development compared with one year ago.
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