FINANCIALS
IT Services
EDS invests, Ingram Micro rebuilds
cont...
% month Mkt cap
Price
10.03.08 - 10.04.08
change 4
P/E ratio
m
Sybase’s total revenue of $260.1m (€167.01m) was up 13% year over year;
license revenue increased 13% year over year, services revenue increased 8%
year over year, database license revenue increased 19% year over year, and
Ordina 10.41 10 429 14
messaging revenue increased 37% year over year. “I am extremely pleased with
EDB Bus. Partner 4.89 18 447 10
our start to 2008,” stated John Chen, chairman, CEO and president of Sybase.
Ementor 4.74 21 453 8
“Our momentum in the marketplace continues, driven by the market-leading
Unwired Enterprise platform, combined with our consistently strong execution.
Asseco 19.17 -8 483 21
As a result, we delivered the best first quarter in Sybase’s history, which follows
Comarch 30.82 -3 232 19
our record 2007 performance. Growth drivers for the upcoming year and
beyond include our enterprise database cluster option, risk analytics platform,
Computerland/Sygnity 3.30 0 34 14
mobile banking and payments solutions, and a new MMS content delivery
Prokom 37.46 7 520 21
gateway. Additionally, our latest release of Information Anywhere Suite now
supports the Apple iPhone and Google Android platforms, as well as Symbian,
Novabase 4.50 42 141 23
Microsoft, RIM, and Palm.
Pararede 0.18 0 79 -
Indra 17.57 -4 2884 19
EDS reported first quarter 2008 adjusted net income of $63m (€40.5m), versus
first quarter 2007 adjusted net income of $165m (€106m). First quarter 2008
Acando (B) 1.33 1 98 9
revenue increased 3% to $5.37bn (€3.45bn) from $5.22bn (€3.35bn) in the year-
Cybercom 4.58 9 103 10
ago quarter. “EDS’ first quarter contract signings performance was exceptional,
particularly in light of uncertain global economic conditions,” said Ron
HiQ 3.24 -3 164 12
Rittenmeyer, EDS chairman, president and CEO. “EDS also got off to a strong
IBS 3.31 -2 22 12
start operationally with both earnings per share and revenue exceeding our
LBI 2.60 -14 161 134
previous guidance.”
Mandator 0.32 0 54 17
The company continued to invest in its capabilities in the first quarter. EDS
Sigma 0.31 -11 14 14 acquired the assets of UK-based Nexagent, strengthening the company’s
networking services capabilities and EDS’ Global Services Network.
Crealogix 45.37 -2 49 19
Additionally, on April 3, the company expanded its presence in the information
Anite (£) 0.49 -8 165 7
security services market by acquiring Vistorm Holdings Limited, creating one of
Axon (£) 4.79 -6 302 9
the largest information assurance and managed security services organizations
in Europe. Finally, the company strengthened its long-term alliance with
Microsoft, becoming its enterprise partner to deliver Microsoft Dynamics CRM
LogicaCMG (£) 1.47 24 2145 12
consulting and solutions. EMEA first quarter revenue was $1.73bn (€1.11bn), up
6% compared to the prior-year period as a result of new contract signings.
Misys (£) 1.88 10 946 10
Ingram micro reported a 4% rise in global revenue to $8.58bn (€5.51bn) during
the first quarter of 2008, which covered the three months to 29 March.
Operating profit was up 34.7% to $99.3m (€63.8m) although operating profit for
Accenture 24.68 7 14600 17
EMEA was down 23.4% to $26.8m (€17.23m). As our lead news story says, Ingram
ACS 33.25 4 3188 20
Micro is restructuring its EMEA operations and regional headquarters during
the next six months at a cost of between $11m (€7.07m) and $13m (€8.36m).
BearingPoint 1.20 13 249 -

Ciber 3.43 9 206 11
OUR ANALYSIS
Cognizant 19.99 2 5763 27
as a final note, we see that, looking at microsoft’s third-quarter results, it
CSC 28.33 7 4494 13
was helped by a tax benefit. Going through the books, it had previously
made overprovision for tax. So microsoft used that tax benefit pile to wipe
EDS 12.22 12 6222 14
out the $1.42bn (€0.91bn) charge against earnings that the company had
Hewlett-Packard 30.79 1 75917 17
to pay as an antitrust fine issued by the European Union. The fine was not
IBM 57.32 0 79352 13
actually tax-deductible, so the result was the US government paying the EU
that amount. Thanks.
Sapient 4.69 -3 594 61
The company’s effective tax rate for the quarter was just 9%. Longer
Unisys 3.06 4 1077 -
term, Microsoft is expecting its tax rate to decline to 28% in fiscal 2009,
which begins July 1. That’s because the company is getting a greater share of
Please note that for consistency, we are now showing all companies with
its earnings from lower tax-rate jurisdictions, it says. microsoft expects the
their share prices converted to Euros unless indicated
tax rate start to continue to fall as the two-thirds of the company’s sales
which come from users outside the US continues to rise.

S

ource: Thomson Financial Datastream
30 02 may 2008
It0808 - 26-31_financials.indd 30 30/04/2008 11:48:13
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