Siebel Posts Profit, Narrows Revenue Gap
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.