Siebel Posts Profit, Narrows Revenue Gap

 
 
By Dennis Callaghan  |  Posted 2004-10-20 Print this article Print
 
 
 
 
 
 
 

The CRM software market leader returns to profitability but falls just short of reversing a quarterly revenue decline that has entered its fourth year.

Siebel Systems Inc. returned to profitability in its third quarter after reporting a loss in the same period a year ago, but fell just short of reversing a quarterly revenue decline that has entered its fourth year. The CRM software market leader reported net income of $19.4 million in the period ended Sept. 30, compared with a $59.3 million loss in last years third quarter.
Total revenues came in at $317.1 million, down from $321.4 million in the same period a year ago, the 13th consecutive quarter that Siebels revenues have fallen year over year. License revenue accounted for the shortfall, dropping from $110 million to $104.6 million year to year.
Siebel signed 84 licensing agreements with new customers and 212 with existing customers during the quarter. It deployed 176,000 new users. Click here to read about narrowly focused business intelligence apps from Siebel. Siebels Business Analytics product line accounted for $27.4 million in license revenue in the quarter. Contract value for its fledgling Siebel CRM OnDemand hosted service increased 32 percent over the second quarter. Check out eWEEK.coms Enterprise Applications Center at http://enterpriseapps.eweek.com for the latest news, reviews and analysis about productivity and business solutions.

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