Sybase, Inc., a provider of enterprise infrastructure and wireless software, has reported financial results for the 2005 third quarter ended September 30, 2005. Pro forma net income for the third quarter reached $30.1 million, or  earnings of $0.33 per share on a diluted basis (EPS).  This compares with pro forma net income of $27.4  million, or EPS of $0.29 for the 2004 third quarter.

GAAP net income for the 2005 third quarter was $28.0 million, or EPS of $0.30. This compares with GAAP net income of $17.8 million, or EPS of $0.19 for the third quarter of 2004.

Pro forma amounts exclude amortization of certain expenses including certain purchased intangibles, unearned stock-based compensation, and restructuring costs.

Total revenues for the third quarter were $199.3 million compared with $198.7 million for the third quarter of 2004.  License revenues were $69.7 million for the 2005 third quarter compared with $70.4 million for the same quarter a year ago.

Pro forma operating income for the 2005 third quarter was $36.2 million, representing 18% operating margin, compared with pro forma operating income of $36.3 million, or 18% operating margin, for the third quarter of 2004.

Operating income for the 2005 third quarter calculated in accordance with generally accepted accounting principles (GAAP) was $30.2 million, representing 15% operating margin, compared with operating income of $21.5 million, or 11% operating margin for the third quarter of 2004.

"We're pleased with our performance this quarter, as we delivered solid results against tough comparables from the third quarter of last year.  We beat our expectations on the bottom line, generated solid cash flow from operations, and increased mobile and wireless revenues by 12% year-over-year," said John Chen, chairman, CEO and president of Sybase.  "Additionally, we successfully launched a major upgrade to our flagship database, Adaptive Server Enterprise 15.0, which will drive future revenue growth.

"We are confident in the strength of Sybase's business fundamentals and our ability to achieve year-end targets.  Based on our progress to date, we are revising upward our full-year pro forma EPS from around $1.11 to a range of $1.16 to $1.20 on a fully diluted basis.  We're also raising our GAAP EPS from around $0.76 to a range of $0.89 to $0.93 on a fully diluted basis," concluded Mr. Chen.