SAN FRANCISCO – Business software maker Siebel Systems Inc. (SEBL) Wednesday posted lower revenue because of customer delays in buying at end-quarter as it had warned two weeks earlier, but managed to post a profit by cutting costs.
Siebel's stock traded slightly up at $7.79 in after-hours trade from its $7.74 close in regular trade Wednesday on Nasdaq.
The San Mateo, Calif.-based company reported second-quarter net earnings of $8.22 million, or 2 cents per share, on total revenue of $301.1 million compared with year-earlier net earnings of $9.77 million or 2 cents, and revenue of $333.3 million.
The results come as the company contests charges by the Securities and Exchange Commission (search) of breaking rules on the dissemination of market-moving news, the second time it has faced civil charges for the offense.
The results were in line with the company's lowered market expectations after Siebel warned July 7 it would miss previous targets.
Analysts expected earnings per share, excluding items, of about 2 cents on revenue of $301.1 million, according to Reuters Estimates.
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox