PeopleSoft, Siebel both say Q3 revenue tops forecasts

Rebounding from sales shortfalls last quarter, business applications vendors PeopleSoft and Siebel Systems each released preliminary third-quarter results on Monday showing higher revenue than they had previously forecast.

PeopleSoft, whose board fired Chief Executive Officer Craig Conway on Friday, said it expects revenue of US$680 million to US$695 million, an increase over last year's US$624 million. The consensus estimate of analysts polled by Thomson First Call called for revenue of US$655 million, with per-share earnings of US$0.14. PeopleSoft said per-share earnings will be US$0.13 to US$0.14, excluding a number of special charges.

PeopleSoft did not provide cost breakdowns for the charges, but it said settlement costs for terminating Conway will reduce its per-share earnings by US$0.02. Costs related to Oracle's ongoing takeover attempt will shave another US$0.01 per share off earnings. PeopleSoft also plans to take charges for a sublease settlement, for restructuring costs, for deferred maintenance write-down and for amortization of capitalized software and intangible assets.

Siebel said its revenue for the quarter ended Sept. 30 was US$315 million to US$317 million, ahead of the US$306 million consensus analyst estimate but behind the US$321 million it reported in last year's third quarter. Revenue from software license sales was US$104 million to US$105 million, an uptick from last quarter's US$95 million, Siebel's lowest quarterly license revenue total in several years. Siebel had license revenue of US$110 million in last year's third quarter.

Siebel did not provide per-share earnings information. Analysts expect US$0.04 in per-share earnings.

Both companies plan to release their full third-quarter results later this month.

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