7/18...SEBL Q2 earnings exceed Wall St. forecasts
SAN MATEO, Calif., July 18 (Reuters) - Customer service software maker Siebel Systems Inc. (NasdaqNM:SEBL - news) on Tuesday reported second-quarter earnings that exceeded analyst expectations, as earnings doubled from a year ago.
Net income on a pro-forma basis was $54.8 million, or 22 cents per diluted share, for San Mateo-based Siebel. In the same quarter in 1999, net income was $24.2 million, or 11 cents per diluted share.
Wall Street analysts had anticipated earnings of 18 cents per share, according to First Call/Thomson Financial, which compiles earnings estimates.
Revenues were $387.4 million for the second quarter, up 119 percent from sales revenue of $176.7 million a year ago.
Earnings for the quarter included the results of OpenSite Technologies Inc., which Siebel acquired in May. Also included was an after-tax gain of nearly $15 million total, or 6 cents a share, on the sale of USInternetworking Inc. (NasdaqNM:USIX - news) stock.
Siebel shares ended at 176-1/4 on the Nasdaq, down 9-3/4 or 5.24 percent. The stock traded as high as 194-11/16 earlier this month. Siebel provides software that helps automate sales, marketing and customer service functions. |
