April 22, 2009 / 1:58 PM / in 9 years

UPDATE 1-Sybase Q1 profit up, raises full year profit view

* Q1 ex-items EPS $0.49 beats estimates by 7 cents

* Q1 rev $267.5 mln just misses estimates $268.0 mln

* Raises FY adj profit view, backs sales view

* Sees Q2 sales below estimates

April 22 (Reuters) - Business software provider Sybase Inc SY.N posted a rise in quarterly profit that beat market estimates, helped by a rise in license revenue and a 6 percent fall in operating expenses, and raised its full year profit view.

The company, which competes with Oracle Corp ORCL.O and SAP AG (SAPG.DE) in data management and analytics, however forecast second-quarter revenue below market expectations but backed its revenue expectations for the year.

First-quarter net income rose to $28.1 million, or 33 cents a share, from $21.7 million, or 24 cents a share, a year-ago.

License revenue rose 14 percent in the quarter, while services revenue, almost half of total revenue, fell 3 percent.

Sybase expects second-quarter adjusted profit of 50 cents to 52 cents a share, excluding items, the top end of which meets analysts’ expectations.

Revenue forecast of $270 million to $275 million is below analysts expectations of $282.5 million, according to Reuters Estimates.

For the full year, the company raised its forecast to $2.20 to $2.24 a share, excluding items, on revenue of about $1.1 billion.

Shares of the company were up about 5 cents at $31.75 in morning trade on the New York Stock Exchange. (Reporting by Savio D’Souza in Bangalore; Editing by Aradhana Aravindan)

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