I suspect there is some truth to the stereotype of the programmer who sleeps in and stays up late. At my current employer, the office hours are shifted from the daily convention of starting work at 9 through to about 5, to working from 9.30-5.30. Not a huge change, but the extra time makes a big difference in the mornings. It stems from the company being founded by programmers - if you went to work for 9AM, you'd be first at the office.
Since I work remotely from one timezone earlier, I can see when people's IM status changes as they log in.
It may also be one reason why programmers resent a regular office environment with fixed working hours, the conventional 9-5 daily grind. Certainly, I think flexi-time is a benefit greatly appreciated by programmers.
Finally, of course there are exceptions - determined by travel constraints, family, or just preference.