Siebel Systems revenue fell for its fourth quarter to $481 million compared with $581.6 million in revenue for the year-ago period. Net income was $65.9 million or 13 cents per share vs $79.5 million or 15 cents per share for the year-ago period. Analysts had expected between 9 to 14 cents per share for the quarter ending December 31, 2001.
Company chairman Tom Siebel said the company witnessed a "spectacular conclusion to what was a tough year." In the quarter, the company shipped Siebel 7, the company's long-promised "zero footprint" client version of its CRM applications.
Technology companies limped through a down market through most of last year, and then faced the "September 11 situation where frankly all buying stopped," Siebel said.
In 2001, "we witnessed the most adverse conditions we've seen in our professional lives," Siebel told analysts on a conference call Wednesday afternoon.
Stockwatchers who view both Siebel and SAP as bellwethers of IT spending have been waiting for those companies to report. ERP power SAP Wednesday morning reported sales for its fourth quarter rose 7 percent to $2.05 billion. Its sales in North America rose 13 percent while salse in Europe, teh mid east and Africa climbed 7 percent, SAP said earlier in the day.
SAP did say it expected 15 percent sales growth for 2002.