SunGard publishes latest results
Reported income from operations for the year 2005 was $493 million and includes amortization of acquired intangible assets of $231 million, merger costs of $139 million, stock-based compensation and other expenses of $36 million, purchase accounting adjustments of $23 million and a one-time charge of $12 million related to the relocation of an Availability Services facility. Adjusted income from operations for the fourth quarter of 2005 was $282 million, a 24 percent increase over $228 million for the fourth quarter of 2004. Reported income from operations for the fourth quarter of 2005 was $151 million and included amortization of acquired intangible assets of $96 million, stock-based compensation and other expenses of $25 million and the purchase accounting adjustments of $11 million. For the fourth quarter of 2004, reported income from operations was $195 million and included amortization of acquired intangible assets of $29 million and merger costs of $3 million. Revenue for the year 2005 was $4.0 billion, an increase of 13 percent over revenue for the year 2004. Revenue for the three months ended December 31, 2005 was $1.09 billion, an increase of 19 percent over revenue for the fourth quarter of 2004. These results do not include a reduction in revenue caused by the deferred revenue adjustment of $21 million and $9 million in the year and the quarter, respectively. Reported revenue was $1.08 billion for the quarter, an 18% increase over the fourth quarter of 2004. Internal revenue (revenue from businesses owned for at least one year, excluding the deferred revenue adjustment and revenue from Brut LLC, which was sold in September 2004) for the year and the quarter grew 6.5% and 8% compared to the same periods in 2004. Availability Services, the company’s information availability and business continuity, division reported an increase in revenue of 16 percent to $346 million for the quarter, due primarily to the acquisition of Inflow, Inc. in the first quarter of 2005, offset in part by a $2 million deferred revenue adjustment. Internal revenue increased 8 percent for the quarter.
•Date: 23rd Feb 2006• Region: US/World • Type: Article •Topic: BC markets |
