Siebel Systems' Net Income Dropped 17%
In Fourth Quarter as Sales Stayed Low
A WALL STREET JOURNAL ONLINE News Roundup
SAN MATEO, Calif. -- Siebel Systems Inc. reported late Wednesday that its profit fell 17% in the
fiscal fourth quarter as the software maker continued to struggle with low sales.
The enterprise-software company posted a profit of $65.9 million, or 13 cents a share, for the
fourth quarter ended Dec. 31, compared with $79.5 million, or 18 cents a share, in the year-earlier
period.
The results topped expectations. Analysts surveyed by First Call/Thomson Financial forecast
earnings of nine cents a share.
Revenue fell 17% to $481.4 million, from $581.6 million in the 2000 fourth quarter. Sales were up
12%, however, from $428.5 million in the third quarter.
In November, the company's chairman, Tom Siebel, said that the selling
environment has returned to more normal levels following the slowdown
that hampered his company's performance in September.
Mr. Siebel reiterated his belief that the market for customer-relationship
management, or CRM, software will eclipse the market for
enterprise-resource planning, or ERP, software next year.
Siebel shares rose $2.18, or 6.7%, to $34.80 in 4 p.m. trading
Wednesday on the Nasdaq Stock Market. Results were announced
after the market's close. |
