Sybase revenue up

The software and database company Sybase announced Tuesday that revenue increased during the fourth quarter of 2004 compared to the same quarter of 2003, yet net income in the quarter was down.

Total revenue jumped 4 percent to $218.6 million during the quarter, which ended Dec. 31, up from $210.7 million in the same period of 2003. The company attributed the increase to a successful year of introducing products.

Sybase’s net income fell 36 percent to $24.1 million in the most recent fourth quarter, from $37.7 million in the same quarter the previous year. During this same comparative span, earnings per share (EPS) dropped from $0.38 to $0.25.

Sybase’s pro forma income, which excludes one-time expenses and restructuring costs, decreased at a much lesser rate, to $38.5 million in the fourth quarter of 2004, from $39.2 million in the same period of 2003. The pro forma EPS increased to $0.40 in the most recent quarter, from $0.39 in 2003. This exceeded analysts’ expectations of $0.31.

Sybase’s stock (SY) jumped to $18.89 by midafternoon Tuesday on the New York Stock Exchange, up $1.77, or 10.3 percent, from the morning opening bell.