Siebel Systems Inc. endured its sixth consecutive quarter of falling revenues and reported a net loss for the second straight quarter Wednesday.
The San Mateo, Calif.-based developer of customer relationship management software reported revenues of $394.7 million in the fourth quarter of 2002, down from $487.8 million in the same period a year ago. Siebel reported a net loss of $38.02 million on that revenue after a profit of $65.9 million in the fourth quarter of 2001. The bottom line numbers were affected by $95.9 million in restructuring charges the company took during the quarter.
Software license revenue was hardest hit, dropping from $250.2 million to $157.4 million year-to-year.
Still, Siebel Systems chairman and CEO Tom Siebel termed the quarter "solid," and company officials pointed to sequential revenue growth, increased market share and positive cashflow that has increased the companys cash stockpile to $2.2 billion.
Siebel Systems added 140 new customers in the quarter and sold additional software to 240 existing customers, officials said.
Siebel also announced the retirement of president and COO Paul Wahl, effective at the end of the first quarter. Wahl joined Siebel in 1999 after serving as president and CEO of security software developer TriStrata. He had previously been the head of U.S. operations for SAP AG.
At Siebel, Wahl managed day-to-day operations related to IT, engineering, product marketing, customer service, and professional services. His direct reports will now report to Tom Siebel. For the remainder of this quarter, Wahl will assist Tom Siebel in areas such as strategic planning, product planning and sales strategies.
"I believe the current management team is well positioned to execute in continuing to build one of the worlds great companies," said Wahl in a statement. He described his time at Siebel as "the professional experience of a lifetime."
In other fourth-quarter CRM earnings reports Wednesday:
Pivotal Corp. saw revenues fall only slightly year-to-year, from $16.7 million to $16.1 million. License revenue was up slightly from $6.9 million to $7 million. The Vancouver-based company narrowed its loss from $63 million to $11.8 million in the quarter.
SupportSoft Inc., which specializes in the service and support automation side of CRM, saw revenues climb year-to-year, from $8.5 million to $11.8 million. License revenues jumped from $6.5 million to $9.1 million, helping the Redwood City, Calif.-based company to turn a profit of $948,000 after a $2.4 million loss in the same period a year ago.
Amdocs Ltd., developers of ClarifyCRM, saw total revenues fall from $422.6 million to $339.4 million year-to-year. License revenue was nearly cut in half, dropping from $42.3 million to $20.5 million. The St. Louis-based company reported a $32.2 million net profit on those revenues, up from $4.3 million in the same period the previous year.