Siebel Systems Reports Revenue and Earnings for the Quarter and Year Ended December 31, 2001
2001 Revenues Total $2.05 Billion
SAN MATEO, Calif.--(BUSINESS WIRE)--Jan. 23, 2002--Siebel Systems, Inc. (Nasdaq:SEBL - news), the world's leading provider of eBusiness applications software, today announced results for the quarter and year ended December 31, 2001.
Revenues for the year ended December 31, 2001 were $2.05 billion compared with $1.80 billion for the year ended December 31, 2000. Siebel Systems' 2001 full-year revenues grew by more than 14 percent. Net income for the year ended December 31, 2001 was $254.6 million or $0.49 per share, compared with net income of $123.1 million or $0.24 per share for the year ended December 31, 2000. Pro forma net income and net income per share, excluding merger-related expenses and accretion of preferred stock, were $257.9 million and $0.49, respectively, for the year ended December 31, 2000.
Revenues for the fourth quarter were $481.4 million, compared with $428.5 million for the third quarter of 2001, an increase of 12 percent. Revenues from license fees for the fourth quarter of 2001 were $250.2 million, compared to $193.5 million in the third quarter of 2001. Net income for the fourth quarter was $65.9 million or $0.13 per share, compared with net income of $35.2 million or $0.07 per share for the third quarter of 2001.
Siebel Systems' financial position ended the year strong. Cash, cash equivalents, and short-term investments at December 31, 2001 increased $510 million to $1.66 billion, compared with $1.15 billion at December 31, 2000. Days sales outstanding in accounts receivable declined to 72 days at December 31, 2001 from 81 days at December 31, 2000. Deferred revenue at December 31, 2001 increased to $241.0 million compared with $202.5 million at December 31, 2000. Stockholders' equity at December 31, 2001 was $1.84 billion, compared with $1.28 billion at December 31, 2000, an increase of 44 percent.
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