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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: Lizzie Tudor who wrote (1563)5/18/1998 3:15:00 PM
From: Shege Dambanza  Read Replies (1) of 6974
 
Their "public" revenue recognition policy is described (sparingly) in their Mar 17, 1998 10-K filing with the SEC (available at edgar.sec.gov). The entire policy is reproduced below:


REVENUE RECOGNITION

The Company recognizes revenue in accordance with Statement of Position No.
91-1, Software Revenue Recognition. Software license revenue is recognized
when all of the following criteria have been met: there is an executed license
agreement, software has been shipped to the customer, no significant vendor
obligations remain, the license fee is fixed and payable within twelve months
and collection is deemed probable. Maintenance, consulting and other revenues
consist primarily of maintenance and are recognized ratably over the term of
the maintenance contract, typically 12 to 36 months.
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