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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (5565)	1/29/2002 8:30:54 PM
From: chojiro	Respond to of 6974

THose are some big shoes to fill. Not saying it isn't possible, just that I know what happens when officers shoot their mouths off at conferences and later have to create excuses for not meeting them. Good luck. P.s. I closed my short position here for over night. We'll have to see how things go tomorrow. And lest not forget to tune into GW in a half hour!

To: stockman_scott who wrote (5565)	1/29/2002 9:27:09 PM
From: Mike Buckley	Read Replies (2) \| Respond to of 6974

"Financially we are rock solid," he said at the annual Banc of America Securities Technology Conference in San Francisco. "Our numbers are not pro forma, they are what you see." To be very frank, that comment, if it is quoted accurately, really bothers me. Every time Siebel has had one-time write-offs, the company has religiously provided pro forma numbers. Even in the most recent earnings report, the first paragraph that discusses earnings stated a pro forma comparison. In times past, management preferred that we focus on pro forma numbers because the numbers looked better. Now that the non-pro forma comparison shows annual growth of earnings at 104%, the company prefers that we make that comparison. If we instead focus on last year's pro forma earnings as the company asked us to do this time last year, there was no growth in earnings. I'm sure that the next time a merger, acquisition or some other one-time charge materially impacts earnings, management will again report pro forma earnings in a heart beat. Anyone wanna bet me about that? --Mike Buckley