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

To: Lizzie Tudor who wrote (1962)	7/20/1998 8:49:00 AM
From: bunny	Read Replies (1) \| Respond to of 6974

the SFA conference is put on on by a company called DCI. Tom keynotes on the 1st day of the exposition (Wed.). Admission is free. The event usually runs: July-NY (Javits), Sept-San Jose (Conv Ctr) December-Boston & April-Chicago. The keynote is something to behold as far as presentations, a little cheesy, although entertaining. More of a look of the future, "virtual agents" etc...

To: Lizzie Tudor who wrote (1962)	7/20/1998 5:21:00 PM
From: Gullapalli	Respond to of 6974

It will be held on the West Coast in September. Go to WWW.DCI.COM to find details ....

To: Lizzie Tudor who wrote (1962)	7/21/1998 12:24:00 PM
From: j_b	Read Replies (2) \| Respond to of 6974

While I agree the quarter was impressive, the DSO is not something that can be ignored in any company. It may mean that sales are being booked too aggressively, resulting in collectiblity issues or padding of revenues to meet expectations. I don't see how increasing deferred revenue could result in higher DSO - if the revenue isn't currently recognizable, it wouldn't affect receivables either. If a customer paid cash in advance (the usual cause of increases in deferred revenue), you would have an increase in cash and in deferred revenue, but not in receivables. Are they using a percentage of completion method of booking contracts? That would make more sense, and would help reassure investors that there is no hanky-panky going on with the numbers. I haven't looked at the Q to see what the method of accounting for revenues is, so maybe someone out there can help.