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

To: Clam Clam who wrote (1242)	3/12/1998 5:46:00 PM
From: Trader Dave	Respond to of 6974

Clam, I've also verified that they recognize revenue based on contracted seats, not live seats. it sounds like they've got 25,000 seats in production and 60,000 behind that. They've recognized a portion (I suspect it's large) of the 60,000, but the company doesn't indicate what fraction. I think the list price fully loaded is $3,500 per seat and asp is 2k to 3k. Supposedly there are "indications of interest" for "hundreds of thousands of seats" from existing customers, but that's not much different than the way vantive works. So another mistake I made (this goes back several months on the thread) SEBL doesn't have a hidden backlog that supports the lofty valuation, just the underlying growth of their business and the industry. I don't know how big or lucrative the microsoft deal will be could that be their next nationwide? Everyone confirms they won it. TD