2004 figures show healthy growth at SunGard Full-year 2004 net income and diluted net income per share includes an after-tax gain of approximately $46 million, or $0.16 per diluted share, from the sale of Brut LLC in September 2004. Merger and spin-off costs and related items were $0.02 per share in 2004, compared to zero in 2003. Excluding the gain from the sale of Brut and all merger and spin-off costs, diluted net income per share was $1.40, up 10 percent over comparable results of $1.27 in 2003. Revenue for full-year 2004 was $3.56 billion, an increase of 20 percent over the $2.96 billion reported for 2003. On October 4th, 2004 , SunGard announced a plan to spin off its Availability Services business to stockholders through a tax-free distribution of shares. The spin-off is now expected to be completed during the second quarter of 2005, subject to customary conditions including the receipt of a favourable ruling from the Internal Revenue Service. SunGard Availability Services’ revenue for the year was $1.17 billion (£1.14 billion in 2003) with net income of $193 million ($161 million in 2003).
•Date:
21st February 2005 • Region: US/World •Type:
Article •Topic:
BC markets |
