Siebel licence revenues up 10pc to US$317m

21 Oct 2004

Business software maker Siebel has reported a 5pc increase in third-quarter revenues of US$317m. Licence revenues, at US$105m, were up 10pc over the second quarter and operating income for the third quarter increased five fold to US$26m.

The third quarter was marked by major customer wins such as Hewlett-Packard, Vodafone, BMW, BT, Overture and the Homeland Security Agency in the US as well as a strong trend of repeat orders from blue-chip customers.

Maintenance revenues of US$118m marked a 3pc increase during the quarter while services and other revenues of US$94m were also up 3pc over the second quarter.

Siebel generated US$33m in cash during the quarter, which is included in a total of US$2.1bn in the company’s coffers.

Siebel began 2004 with a claim by founder Tom Siebel that if the first three quarters of the year yielded strong revenues he would feel confident that that technology industry recovery is well under way.

The recent strong results should prove to be good news to Siebel’s 200-strong operation in Galway, which last year had to lay off 40 workers during the industry downturn.

Siebel most recently hit the news in Ireland when it acquired Irish e-banking software firm Eontec for a massive US$130m. The acquisition will enable the company to deliver a next-generation retail banking solution from its armoury of technologies.

By John Kennedy