By Jon Bernstein, 24 January 2002 07:29
NEWS Thomas Siebel, chairman and CEO of CRM specialist Siebel Systems, described 2001 as a "challenging year" after his company's latest quarter saw software sales fall 31 per cent. Profits were also down for the three-month period from $79m to $65.9m. In a statement to investors, Siebel said: "About 1,100 software companies have gone out of business in the last 12 months. At the beginning of last year we had 80 competitors out there. In the course of the year, most of them have disappeared from the face of the planet. The rest, well we don't see them any more." Overall revenues were $481m compared to $581m in 2001. Software contributed $250m while professional services and support added a further $231m. Siebel remained upbeat about 2002, however, insisting that customer relationship management remained the top priority for IT departments.
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