Siebel warns of lower sales
By Mike Tarsala, CBS.MarketWatch.com
SAN MATEO, Calif. (CBS.MW) -- Siebel
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Siebel warns of lower sales
Stock futures surge despite tech warnings, job losses
Confirming some analyst expectations that the sales software-maker's business curtailed near the end of the quarter, Siebel said it expects first-quarter sales in the range of $330 million to $335 million. Analysts polled by Thomson First Call had expected sales of $368.9 million.
"We continue to be optimistic about the medium-and long-term potential for Siebel Systems," said Tom Siebel, the company's chief executive, in a statement. "We are financially rock solid, with over $2.2 billion in cash."
The company said it expects net income after taxes in the range of $3 million to $5 million for the first quarter. Siebel didn't immediately say how that compared with analyst expectations. Analysts polled by Thomson First Call had been expecting earnings excluding charges of 4 cents a share.
Siebel shares (SEBL: news, chart, profile ) traded at $7.75 in after-hours trading, unchanged from its closing price in the regular session. Shares had lost 41 cents, or 5 percent, in Nasdaq trading. The company's stock is up from a trough of $5.33 in October, but down from $34 a year ago. |
