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Siebel quarterly results see unexpected boost

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5th Apr 2004
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Siebel is predicting a first-quarter profit rise following a combination of cost cutting and increased spending by US customers.

At the top end of management forecasts, total revenues should be $329m for the first quarter ending 31 March, the company said. Licence revenues will be around $127m, 13 per cent up on the previous quarter and exceeding management's previous expectations. New licence sales rose 13 per cent.

"The information technology environment is more predictable than it was," said CEO Tom Siebel in a conference call to analysts, but added that he doesn't expect a "dramatic increase" in spending in 2004. "It's clearly getting better. It's clearly firming up. It's entirely possible there might be an economic revival afoot".

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