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Sybase’s first-quarter profit rises

NEW YORK (MarketWatch) — Sybase Inc.’s first-quarter net income rose to $24.2 million, or 27 cents a share, from $15.1 million, or 16 cents a share, a year earlier. Excluding stock-based compensation and restructuring costs, among other items, Sybase earned $35.3 million, or 39 cents a share. The Dublin, Calif., enterprise software company said revenue increased 13% to $260.1 million from $230 million. On average, analysts polled by Thomson Reuters expected per-share non-GAAP earnings of 34 cents on revenue of $249 million. Sybase expects second-quarter earnings of 30 cents to 35 cents a share and non-GAAP earnings of 40 cents to 45 cents a share on revenue of $255 million to $256 million. The company raised its expectations for 2008 earnings to a range of $1.51 to $1.56 a share from previous guidance of $1.50 to $1.55 a share. Sybase also increased its projections for non-GAAP income to a […]

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