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News > Technology
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Siebel misses estimates
graphic October 17, 2001: 5:07 p.m. ET

The business software company sees 3Q earnings, revenue drop.
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NEW YORK (CNNmoney) - Siebel Systems Inc., a leading provider of electronic business software, reported a year-over-year drop in third-quarter earnings that missed analysts' estimates as revenues fell by 15 percent from the year-earlier quarter.

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In the third quarter of 2001, Siebel earned 46 percent less than in the year-earlier quarter. Third-quarter earnings per share fell to 7 cents per share from 13 cents per share in the same quarter of the previous year. The company missed analysts' estimates of 9 cents per share by 2 cents, according to data compiled by tracking firm First Call.

Revenues dipped to $428.5 million in the third quarter of 2001 from $496.5 million for the same period last year, a decrease of $58 million, or about 15%.

Siebel's (SEBL: down $4.16 to $17.38, Research, Estimates) net income totaled $35.2 million in the third quarter, compared to $67.5 million in the third quarter of 2000.

A drop in revenues from licensing, maintenance, consulting and other fees contributed to the loss. graphic




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