Sybase expects lower Q2 sales
Sybase Inc. said on Thursday that its second quarter earnings are likely to fall short of Wall Street expectations because of difficulties closing large deals in North America.
The Dublin, California-based software maker expects revenue for the three-month period ended June 30 to be between US$188 million and $192 million, with pro forma earnings per share between $0.17 and $0.20, it said in a statement.
The forecast, based on preliminary estimates, falls below analysts' expectations of $199 million in revenue and $0.24 earnings per share, according to a consensus estimate compiled by Thomson First Call.
Sybase's results were hurt primarily by lower than expected revenue in North America due to direct sales issues in the company's enterprise business, Sybase President and Chief Executive Officer John Chen said in a statement.
Sybase is scheduled to announce its second quarter results on July 22.
The company's shares (SY) finished down 33 cents at $17.67 on the New York Stock Exchange. In after hours trading the stock fell $1.29, or 7.3 percent, to $16.38.
IDG News Service
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