Sybase profit up 179 per cent

Sybase's results were boosted by a tax credit

Software integration company Sybase has reported its best quarter ever, fuelled by strong software licensing revenue.

Profit reached $73.5m (£37m), up 179 per cent compared with $26.4m (£13.3m) in the same quarter of 2006. Revenue for the period was $295.2m (£149m), a year-on-year rise of 15 per cent.

Revenue for whole of financial 2007 increased 17 per cent to $1.03 bn (£519m). Profit was $148.9m (£75.1m), a 57 per cent rise from the $95.1m (£48m) reported in 2006. Licensing proceeds rose by six per cent to $344.8m (£174m) and the figures were also helped by a $27m (£13.6m) tax credit from the US government.

"Our strong fourth quarter performance completes the best year in Sybase's 23-year history," said Syabase’s chairman and CEO John Chen.

"Our consistently strong execution is evident in our solid performance in key operating metrics, including revenue growth, operating margin expansion and earnings over the last three years,” said Chen.