Siebel Systems (SEBL) - strong buy? Message Board

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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: patricksullivan1 who wrote (5423)	10/18/2001 1:18:31 PM
From: Jack Hartmann	Read Replies (2) of 6974

GS on SEBL this morning EPS (FY Dec): 2001E US$0.45, 2002E US$0.45 Recommended List Siebel Systems SEBL, $17.38 Siebel' s license revenues of $193 mil were a bit below our $200 mil est., which was revised down following Sept 11th. EPS of $0.07 was modestly above our $0.06 est due to cost reduction efforts. The bad news on business was even worse than expected, so the stock will likely show further weakness. We have reduced revenue est even further and cut EPS for 2001 to $0.45 from $0.47. For 2002 we est flat EPS of $0.45, down from $0.50 previously. The worst may be behind us and have modeled gradually improving business (seasonally stronger Q4), with slowly improving results in 2002 with a new product and improving economy. Hanging tough, maintain buy. Valuation more attractive on this weakness. Jack (no position)

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