Sybase forecasts slow growth

NEWS Sybase said it expects pro forma earnings per share to grow by ten per cent next year, despite analyst forecasts for a minimal increase in IT spending. At a financial analyst conference in New York, company executives said they were counting on a gradual improvement in the economy throughout 2002 to boost profit margins. Sybase vice president Scott Irey said he expected moderate growth across all of the company's divisions. In the aftermath of September's terrorist attacks, CEO John Chen put 2002 earnings per share growth forecast at about eight per cent.