Siebel Systems profit up 113%

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Siebel Systems has announced net revenues for the first quarter of 2000 were $309.4 million, compared with $141.5 million for the same period last year, an increase of 119 per cent.

Net income was $46.3 million ($0.19 per share) compared with $21.8 million ($0.10 per share) for the first quarter of 1999, increases of 113 and 90 per cent, respectively.

License fee revenue increased by 104 per cent; maintenance, consulting and other services increased by 147 per cent over the same period last year.

The quarterly results include a net, after-tax, non-operating, non-interest gain of approximately $4.5 million ($0.02 per share) principally relating to the sales of 367,000 shares of USInternetworking stock.

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