Siebel announces Q2 results

Siebel has announced its preliminary financial results for the quarter ended June 30, 2005, and expects total revenues for the second quarter of 2005 to be around $312 million to $314 million.

The company also expects licence revenues for the quarter to be about $78 million and maintenance revenues around $123 million.

Services and other revenues are estimated to be $111 million to $113 million.

The expected total revenue, if achieved, will exceed results for the same quarter last year, when total revenues for the second quarter of 2004 were $301.1 million.

However, revenues from licence fees are down on the second quarter of 2004 which achieved revenue of $94.8 million.

According to Siebel Systems chief executive officer George Shaheen, preliminary second-quarter results show signs of progress but also underscore clear areas for improvement.

"Although we achieved sequential growth in all revenue categories, increased Siebel CRM OnDemand total contract value by more than 90 percent sequentially, and made progress against our cost savings initiatives, we underperformed against our licence revenue and profitability goals."

Shaheen claims that steps have been undertaken to enhance sales execution, simplify sales compensation and realign and add senior management.

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