Although Sybase?s year-end results failed to excite, the database supplier was bullish about exclaiming it is now on the path to recovery.
For the fourth quarter ending 31 December 1996, Sybase turned in flat revenues of $267.8m compared with $267.3m for the year ago period. Profits were $5.1m or $0.07 per share, a penny ahead of analysts? estimates, but down from $6m or $0.08 per share, the previous year.
For the full year period, the company?s turnover rose only $43.4 million to $1 billion. Losses amounted to $79 million, after a $49.2 million restructuring charge, compared with losses of $19.5 million, after $44 million in acquisition and merger costs for the same period last year.
Colin Tenwick, Sybase?s UK managing director, said: "1996 was a year of two halves. We dug ourselves a hole in the first and second quarters, but we?ve now put in place a plan for profitability and we?re on course for recovery. This won?t be a boom or bust thing, but a steady, planned recovery. We hope to be back to former growth levels by the end of fiscal 1997."
Although he claimed that the PowerSoft tools division and the Wired connectivity unit, formerly known as the Interconnectivity group, had experienced high growth levels, he said that SQL Server database was still the firm?s core business, with licence sales up 15 per cent on the third quarter. No other figures were available.
Tenwick added that 40 per cent of the supplier?s revenues were now generated by third party channels and partners including Geac and PeopleSoft.
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