| SunGard announces second quarter results SunGard has reported that net income for the three months ended June 30th, 2003 was $90 million, a 10% increase over $82 million for the second quarter of 2002. Diluted net income per share for the quarter was $0.31, up 11% over comparable results of $0.28 reported in 2002. For the first six months of 2003, diluted net income per share was $0.57, up 10% over comparable results of $0.52 reported in 2002. Revenue for the second quarter of 2003 was $734 million, an increase of 18% over $623 million reported in the year-ago quarter. Revenue from businesses owned for at least a year (internal revenue) declined approximately 1% from the same period in 2002. Revenue for the first six months of 2003 was $1.41 billion, an increase of 14% over the $1.23 billion reported for 2002. Availability Services' (AS) revenue increased 22% to $290 million for the quarter, primarily due to the July 2002 acquisition of Guardian iT plc, the integration of which is proceeding to plan. AS internal revenue increased approximately 4% for the quarter. IT capital spending is a key driver in business continuity growth. Nevertheless, since 9/11, IT executives have realized the extent to which their businesses are dependent on IT and continue to upgrade their continuity plans.
•Date:
6th August 2003 • Region: W.wide/N.America/UK
•Type: Article •Topic:
BC markets
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