Siebel Reports 3Q Profit

The San Mateo-based company Wednesday said earnings for the latest period also doubled from the second quarter, boosted by higher revenue and lower operating expenses.

In the quarter ended Sept. 30, Siebel earned $19.4 million, or 4 cents a share, on revenue of $317.1 million. In the same period last year, it lost $59.3 million, or 12 cents a share, on revenue of $321.4 million.

Earnings in the latest quarter include restructuring and other charges of $8.5 million, or about 2 cents a share. Excluding items, earnings were 5 cents a share.

Analysts were expecting earnings of 4 cents a share on revenue of $315.8 million, according to Thomson First Call.

Last year's loss included $104.8 million in restructuring and related pretax expenses and a $10.7 million loss on early extinguishment of debt.

Siebel Systems said third-quarter license revenue was $105 million, up 10 percent from the second quarter. Maintenance revenue was $118 million, up 3 percent from the second quarter. Services and other revenue increased 3 percent to $94 million.

In the nine months ended Sept. 30, the company earned $59.2 million, or 11 cents a share, on revenue of $987.5 million. In the same period last year, it reported a loss of $45 million, or 9 cents a share, on revenue of $947.4 million.

The company's shares closed Wednesday at $9.16, down 21 cents, or 2.2 percent, on the Nasdaq Stock Market. In extended trading, after the release of the results, the shares were up 10 cents.

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