Siebel revenue down; E.piphany, Kana report losses

One-time high-flying CRM systems vendor Siebel Systems Inc. this past quarter saw its revenue and income plunge from a year ago, although it still managed to remain profitable.

The San Mateo, Calif.-based company Wednesday reported income of US$4.6 million, or 1 cent per share, on revenue of US$332.8 million for the first quarter of 2003, down from earnings of US$64.6 million on revenue of US$477.8 million in the same quarter last year.

Revenue from license fees, a good indicator of a company's health, dropped by more than half to US$112.1 million from US$246 million in the same quarter of 2002. The drop in maintenance, services and consulting revenue was less drastic, falling to US$220.7 million this year from US$231.8 million in 2002.

The company's financials reflect the poor market for enterprise software in general and for CRM applications in particular.

Earlier this week, San Mateo-based E.piphany Inc. reported a net loss of US$10.9 million on revenue of US$22.5 million, compared to a loss of US$17 million on revenue of US$22.1 million in the first quarter of 2002.

That translates into a net loss for E.piphany for the quarter of 15 cents per share, compared to a net loss of 24 cents per share in the year-ago quarter.

"I am pleased with our execution this quarter, especially in light of the world situation and the general spending environment in the enterprise software," said Roger Siboni, president and CEO of the company.

In addition, Menlo Park, Calif.-based Kana Inc. Tuesday announced a net loss of US$3.9 million, or 17 cents per share, on revenue of US$18.1 million. In a statement, the company said it would be in the black sometime in 2003.

Combined license and maintenance revenue represented 95 percent of total revenue for the first quarter of 2003, the company said. That's up from 91 percent of total revenue in the previous quarter.

"We are pleased with our performance this quarter despite the difficult economic environment," said Chuck Bay, Kana's CEO.

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