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Technology Stocks : Vantive Corporation -- Ignore unavailable to you. Want to Upgrade?

To: seth thomas who wrote (2984)	7/7/1999 10:47:00 AM
From: Yamphung K. Lee	Read Replies (2) \| Respond to of 3033

First off, the revenue improvement would be purely services, not licenses. They'll probably show year over year decline in licenses. I also believe the percentage of revenues from installed base vs. new customers is very high. All bad news, given the overall growth of the market, and particularly in light of recent license growth of Siebel and Clarify. Second, this is the second group of management that has "botched it". Could it be that Vantive just has no product or strategic differentiation?? Word on the street is that they are nowhere to be found competitively and Siebel and Clarify are dominating this segment.

To: seth thomas who wrote (2984)	7/7/1999 6:28:00 PM
From: Mike Buckley	Respond to of 3033

Seth, If you're going to hold me to the letter of my statement that revenues aren't growing at all, you're right. But anyone following this space should recognize that this is a high-growth business that is not inuring to Vantive's benefit of late. Also, the important part of Vantive's revenue is their licensing revenue which is as follows: March '98: $22.5 million June '98: $19.2 million Sept '98: $21.7 million Dec '98: $25.8 million March '99: $22.2 million June '99: about $22 million, according to the company With the exception of the December quarter which is always the big quarter for front office companies, Vantive's licensing revenue has been the same or below the level they established five quarters ago. Like I said, no growth. --Mike Buckley