Feeds

Siebel reports Q4 loss

Sharp sales fall

  • alert
  • submit to reddit

Internet Security Threat Report 2014

ComputerWire: IT Industry Intelligence

CRM giant Siebel Systems Inc turned in a fourth quarter loss yesterday on the back of a sharp fall in software revenues.

The San Mateo, California-based vendor reported revenues of $394.7m for the quarter ending December 31, down 19.1% on the year. While services, maintenance and other revenues were static, software revenues were off 37.1% at $157.4m.

Operating loss was $67.2m, compared to a profit the previous year of $94.6m. Net loss was $38m, compared to the previous year’s $65.9m profit. On a proforma basis, excluding a $95.9m restructuring charge, the company reported net income of $23.4m, down 64.5% on the year.

For the full year, revenues were down 21.6% to $1.6bn. Operating loss was $94.3m compared to the previous year’s $357.9m profit, while net loss was $35.7m compared to a profit of $254.6m the previous year. On a proforma basis, full year net profit was $130.8m, down 48.6% on the year.

The company also announced that COO Paul Wahl will retire at the end of the first quarter, 2003. His direct reports will now report directly to chairman and CEO Tom Siebel.

Earlier in the day, the company announced it had realigned its stock compensation program in the light of the recent decline in the IT industry. In an SEC filing, the firm said 28 million shares underlying employee stock options had been canceled. The company said this equated to 5% of net potential dilution to stockholders.

The filing also said that Tom Siebel had asked the board to cancel all stock options granted to him during the last four years. This equated to just under 26 million shares, with a fair value of $56.1m. As a result, Siebel’s beneficial ownership of the company was reduced from around 13.5% to around 10.7%.

© ComputerWire

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.