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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: Lizzie Tudor who wrote (6670)4/23/2003 4:51:36 PM
From: Ron  Read Replies (1) of 6974
 
PALO ALTO, Calif., April 23 (Reuters) - Business software maker Siebel Systems Inc. (NasdaqNM:SEBL - News) on Wednesday posted a first-quarter profit that was off 93 percent from a year earlier, as revenue fell by one-third amid economic and geopolitical uncertainty.
Silicon Valley-based Siebel, the No. 1 vendor of software to manage sales and customer service, had net income of $4.6 million, or 1 cent per share, in the quarter. A year earlier it posted net income of $64.6 million, or 12 cents a share.

Revenue fell to $332.8 million from $477.8 million in the year-earlier quarter, as key software sales fell by more than half to $112.1 million.

Analysts lowered estimates after Siebel warned on April 4 that its revenue would come in much lower than expected. Those polled by Wall Street tracking firm Thomson First Call most recently had seen Siebel posting a profit of 1 cent per share on revenue of $332.3 million.
The stock, which once traded over $100, is down 66 percent from a year ago.
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