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Sybase Has 'Record' Year
2/1/2008
Despite its improved balance sheet, Sybase faces a major challenge. Sandell Asset Management Corp., its largest shareholder, last month proposed adding three independent directors to the company's board. In a filing, Sandell said it would like to see Sybase consider issuing an IPO or spinoff of its mobility group, aggressively repurchase shares or try to sell all or part of the company.
"We feel that shareholder representation on the board is warranted to ensure that all alternatives are considered and a course of action is taken to close the gap between the current share price and its inherent value," said Thomas Sandell, CEO of Sandell, in a statement released December 28.
When asked about Sandell's effort on the earnings call, Chen said the company's results speak for its approach to managing the business.
Sybase has several new products in the pipeline in the coming months, Chen said, including a its Adaptive Server Enterprise shared disk cluster database, a risk analytics server for financial services institutions to gather real-time trades, which will be launched at the New York Stock Exchange, and its M-Commerce platform that will enable high volume mobile transactions.
For the 2008 year, Sybase is predicting moderate growth. The company gave guidance of $1.075 billion to $1.090 billion in revenues for the year.
Jeffrey Schwartz is executive editor, features, for Redmond Developer News. You can contact him at jschwartz@reddevnews.com.
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