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SunGard has reported that revenue for the three months ended September 30, 2007 was $1.22 billion, an increase of 14 percent over revenue for the three months ended September 30, 2006. Organic revenue (revenue from businesses owned for at least one year and further adjusted for the effects of businesses sold in the previous twelve months) grew 11 percent for the quarter compared to the same period in 2006.
Availability Services revenue increased 9 percent to $369 million for the quarter. Organic revenue grew 6 percent.
Notable deals in the quarter included the following:
- An infrastructure company specializing in airport services selected SunGard for disaster recovery services.
- A large commercial bank selected SunGard for managed services.
- An international bank that regulates its country’s financial markets selected SunGard for disaster recovery services.
At September 30, 2007, total debt was $7.7 billion, cash balances were $362 million and off-balance sheet debt was $424 million.
Read the full results.
•Date: 13th Nov 2007• Region: US/World •Type: Article •Topic: BC markets
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