Sybase boosts full-year sales forecast

After posting better-than-expected second-quarter results Wednesday, database and mobile software maker Sybase Inc. raised its full-year sales and adjusted profit forecast.

The company also forecast third-quarter earnings of 38 cents to 40 cents per share, adjusted earnings of 48 cents to 50 cents per share and revenue of $270 million to $275 million.

Analysts, on average, are predicting a profit of 48 cents per share on sales of $269.3 million for the quarter, according to a poll by Thomson Financial.

The company now expects 2008 earnings of $1.53 to $1.55 per share, compared with its prior forecast of $1.51 to $1.56 per share. Excluding items, Sybase now expects to earn $1.98 to $2 per share for the year, up from its earlier adjusted earnings forecast of $1.94 to $1.99 per share.

Analysts are predicting a profit of $1.97 per share, excluding items.

Sybase now expects full-year sales of about $1.11 billion. Wall Street is expecting sales of about $1.1 billion. The company said in April it expects 2008 sales at the high end of its forecast for sales between $1.08 billion and $1.09 billion.

Shares rose 94 cents, or 3 percent, to close the regular session at $32.40. In after-hours electronic trading, shares gained 93 cents, or 2.9 percent, to $33.33.