Siebel Systems Inc. shows no signs of losing its grip on the top spot in thecustomer-relationship management market, nearly doubling revenue for its third quarter in results reported today.
The company posted $195.3 million in revenue for the quarter ended Sept. 30, up from $104.2 million in the year-ago quarter. The company's profits rose at an even higher rate, growing 114% from $14.1 million.
While Siebel's meteoric growth rate can be attributed in part to the fact that it is still a relatively small company, CEO Tom Siebel says he's optimistic the business can maintain a high growth rate even as it nears the billion-dollar mark. In what he says is evidence of the company's dominance, Siebel says the company is unopposed in 39% of its sales opportunities.
License fee revenues grew 63% during the year to account for 64% of revenue, compared to 74% in last year's third quarter. Correspondingly, services grew 157% as more of the company's business comes from service contracts and maintenance renewals.