Siebel sees revenue fall

Siebel Systems' revenue has dropped but its net income has risen in its fourth fiscal quarter.

Siebel Systems' revenue has dropped but its net income has risen in its fourth fiscal quarter.

Siebel's revenue dropped to $366.7m (£199m) for the three months ending 31 December, from $394.7m in the fourth quarter of 2002.

Net income came in at $41.5m compared with a net loss of $38m in the same quarter a year ago.

Revenue also fell for the full year, to $1.35bn from $1.63bn in 2002. The CRM software maker posted a net loss of $3.4m, compared with a steeper loss of $35.7m in 2002.

Siebel remains committed to the CRM market, said chairman and chief executive officer Tom Siebel.

"In the course of the year we doubled down on CRM. We see this as a large market opportunity that offers significant growth as the economy recovers. We see it as a market opportunity that is largely unpenetrated."

Juan Carlos Perez writes for IDG News Service

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