Siebel Systems warns on revenue

Software maker Siebel Systems Inc. on Wednesday warned its second-quarter revenue would come in below expectations, punishing its stock price, as customers delayed buying at the end of the quarter.

Siebel’s stock fell about 16 percent in after-hours trade, following the release of earnings.

The San Mateo, California-based company, which will report its quarterly results on July 21, said it expects to report revenue of $301 million compared with average analyst revenue estimates of $352.7 million, according to Reuters Estimates.

Siebel did not provide an updated estimate on its earnings-per-share for the quarter, a company spokesman said.

Jamie Friedman, an analyst at Fulcrum Global Partners, LLC, said Siebel’s preliminary results were disappointing but said he had no plans to change his “buy” rating because of the company’s cash position.

“The company has about $2.1 billion in cash, about $4 of cash per share ... and there’s a lot they can do with that,” said Friedman, who does not own any Siebel stock.

Siebel forecast license revenue, a barometer of future growth, at $95 million.

“(The outlook) is a disappointment. We were looking for license revenue of $130 million,” JMP Securities analyst Patrick Walravens said.

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

Siebel’s warning followed those of several other software companies, including Veritas Software Corp., Sybase Inc. and PeopleSoft Inc.

Siebel said it expects service and other revenues at about $91 million and maintenance revenue of around $115 million.

Siebel was accused by federal regulators at the end of June of breaking rules on the dissemination of market-moving news, the second time it has faced civil charges for the offense.

The U.S. Securities and Exchange Commission said Siebel violated a 2001 rule that requires sensitive financial information to be disclosed equally to all investors.

The company has vowed to contest the charges.