Earnings are out. I haven't had achance to read yet.Siebel Systems Reports Revenue and Earnings for the Quarter Ended June 30, 1999
SAN MATEO, Calif. – July 20, 1999 – Siebel Systems, Inc. (Nasdaq: SEBL) today announced results for the quarter ended June 30, 1999.
Net revenues for the second quarter were $164.4 million, compared with $90.0 million for the same period last year, an increase of 83 percent. Net income was $25.8 million or $0.24 per share, compared with pro forma net income of $12.0 million or $0.12 per share for the second quarter of 1998, increases of 115 and 100 percent, respectively.
Revenues from license fees for the second quarter of 1999 increased 63 percent over the comparable period of 1998 and accounted for 67 and 75 percent of total revenues for the second quarters of 1999 and 1998, respectively. Revenues from maintenance, consulting and other services increased 140 percent over the comparable period of the prior year.
Revenues for the first six months of 1999 were $298.5 million compared with $164.2 million for the same period last year, an increase of 82 percent. Net income was $47.1 million or $0.44 per share, compared with pro forma net income of $21.8 million or $0.22 per share for the first six months of 1998, increases of 116 and 100 percent, respectively. Pro-forma net income and net income per diluted share excludes costs related to the merger with Scopus Technology in the second quarter of 1998.
Actual net income (loss) for the three and six-month periods ended June 30, 1998 was $(0.8) million and $8.9 million, respectively. Actual net income (loss) per share for the three and six-month periods ended June 30, 1998 was $(0.01) and $0.09, respectively.
Quarterly Highlights
The following highlights were announced or occurred since Siebel Systems' last earnings statement:
Expanded Company Leadership Siebel Systems significantly expanded the company's management team in the second quarter, most notably appointing Paul Wahl, the former CEO of SAP America, as president and chief operating officer. Wahl's appointment is part of Siebel's plan to broaden the company's leadership to assure that Siebel Systems is well positioned to take advantage of the many new growth opportunities ahead. Other new members of the management team include: Jeremy P. Coote, former president of SAP America, who joined as vice president, North American Operations; Thomas E. Hogan, former vice president sales, IBM Midrange Systems who joined as vice president, International Operations; Karen M. Riley, former general manager, IBM Business Process Management, who joined as vice president, Global Services; Alex Ott former senior vice president, Latin America of SAP America, who joined as vice president and general manager, EMEA; and Ralph Bauman, former global account program manager of SAP AG, who joined as regional manager, Central Europe.
New Product Suite: Siebel 99.5 Siebel 99.5, the newest release of Siebel Front Office Applications was released into general production in June. The Siebel 99.5 release provides significant new capabilities that allow organizations to simultaneously manage all channel and customer touchpoints. Siebel 99.5 enhances Siebel eBusiness applications, and provides a broad range of new application products including: Siebel Incentive Compensation; Siebel Professional Services Management; Siebel Database Marketing; Siebel Data Quality; and Siebel Connector for SAP R/3, offering out-of-the-box integration between Siebel Front Office Applications and SAP's ERP application suite.
Strategic Relationship with IBM to Deliver DB2 Siebel Systems announced a strategic partnership with IBM Corporation to deliver out-of-the-box integration for the DB2 Universal Database. Siebel will package and ship DB2 with its enterprise applications, offering customers high performance and enterprise scalability at the lowest cost.
Strategic Agreement with Qwest Communications Targeting small to mid-sized businesses, Siebel Systems teamed with Qwest Communications to distribute Siebel's Sales for Workgroups software and provide comprehensive application hosting services for Siebel Systems' applications. This strategic relationship gives businesses a comprehensive, facilities-based Application Service Provider (ASP) that combines Qwest's high-speed network and Siebel Systems' front office software to deliver Internet-based applications and services to businesses around the world.
Strategic Partnership with Great Plains Great Plains and Siebel Systems announced a partnership in which Great Plains will be using its distribution channels to deliver Siebel Front Office Applications to the midmarket. Great Plains Siebel Front Office will be fully integrated with the Great Plains Dynamics back office platform, addressing the midmarket demand for integrated, best-of-class business applications. Great Plains Siebel Front Office will be available exclusively from Great Plains and its global network of more than 1,400 reseller partners.
Partnership with J.D. Edwards to Deliver End-to-End Enterprise Solution Siebel Systems and J.D. Edwards announced a partnership to deliver Web-based front office solutions to midmarket and enterprise customers. Through the agreement, J.D. Edwards will resell Siebel's market-leading sales applications and the two organizations will work together to integrate Siebel's Web-based front office software to extend and enhance the capabilities of J.D. Edwards' OneWorld software suite.
Strategic Agreement with Microsoft to Provide SQL Server Integration Siebel Systems expanded its ongoing partnership with Microsoft Corporation to deliver the Microsoft® SQL Server™ 7.0 relational database as a core component of the Siebel Web-based front office application family. The agreement enabled Siebel to package and ship the SQL Server 7.0 database with Siebel's market-leading sales, marketing and customer service applications.
New Customers New customers continue to standardize on Siebel Front Office Applications to implement Web-based sales, marketing, customer service and eBusiness solutions. New customers in the second quarter included: Abbott Laboratories Limited; America Online, Inc.; Bank of China International LTD.; Benckiser NV; CIBER, Inc.; Enron Corp.; Farmers Insurance Group of Companies; Fujifilm France; Great Plains; NIKE, Inc.; Nokia Corporation; Putnam Investments, Inc.; Qwest Communications International, Inc.; Taldor Computing Systems Ltd.; Tryg-Baltica Forsikring A/S; and Scudder Kemper Investments, Inc.
Revenue from Existing Customers Additional orders from existing customers continued at a healthy pace during the quarter. The Company realized significant reorders from AT&T Asia Pacific Group Ltd.; American Re-Insurance Company; BellSouth Corporation; Bouygues Telecom; Cabletron Systems, Inc; Cisco Systems, Inc.; Citigroup Inc.; Compaq Computer Corporation; Credit Suisse Asset Management; Fujitsu Business Communications Systems; General Electric Capital Corporation; Glaxo Wellcome Inc.; Imperial Tobacco Limited; International Computers Limited (ICL); Intuit Inc.; Lucent Technologies; Marriott International, Inc.; Motorola, Inc.; Nykredit A/S; PrimeCo Personal Communications, L.P.; Prudential Logistics Limited; Teledata Limited; and Winterhur Europe Assurances |
