The CRM vendor said total revenues would come in between $320 and $322 million – while a total revenue figure of $328.4 million had been expected.
Siebel said it would turn in a loss of $0.12 per share, which includes restructuring and other charges. Excluding these charges, the company would have reported a profit of $0.03 per share, in line with expectations.
Siebel said back in July that it would kick off a restructuring program in the third quarter, including hefty headcount reductions. At the time it said it expected its headcount to be 5,000 by the end of the year. Yesterday, it said headcount stood at 4,984.
Restructuring and related charges were $107 million in the third quarter. The company also reported debt retirement and associated costs of $11 million. A tax benefit associated with these charges was worth $42 million. Siebel said the redemption of its convertible debt in the quarter meant it had eliminated substantially all of the company’s debt.
This article was based on material originally published by ComputerWire.
