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Previous: FIRST OMNI BANK NA, 8-K, 1997-10-20 |
Next: TRANSPACIFIC INTERNATIONAL GROUP CORP, 10QSB, 1997-10-20 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
October 16, 1997
------------------------------------------------
Date of Report (Date of earliest event reported)
SIEBEL SYSTEMS, INC.
------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-20725 94-3187233
- ------------------------------- -------------- --------------------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
1855 South Grant Street
San Mateo, CA 94402
--------------------------------------
(Address of principal executive offices)
(650) 295-5000
--------------------------------------------------
(Registrant's telephone number, including area code)
<PAGE>
ITEM 5. OTHER EVENTS
On October 16, 1997, the Registrant reported its sales and earnings results for
the quarter ended September 30, 1997. Attached as Appendix A to this report are
the Registrant's Consolidated Statements of Operations for the three month
period and the nine month period ended September 30, 1997 and the Registrant's
Consolidated Balance Sheets as of December 31, 1996 and September 30, 1997 each
as reported in a press release by the Registrant dated October 16, 1997. The
Company will provide more detailed information concerning its quarterly results
in its Quarterly Report on Form 10-Q for the quarter ended September 30, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SIEBEL SYSTEMS, INC.
Dated: October 20, 1997 By: /s/ Howard H. Graham
------------------------------------------
Howard H. Graham
Senior Vice President, Finance and
Administration and Chief Financial Officer
<PAGE>
APPENDIX A
SIEBEL SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data, unaudited)
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
------------ ------------
1997 1996 1997 1996
---- ---- ---- ----
<S> <C> <C> <C> <C>
Revenues:
Software $27,969 $10,235 $65,365 $21,373
Maintenance, consulting and other 4,648 936 11,251 2,053
------- ------- ------- -------
Total revenues 32,617 11,171 76,616 23,426
Cost of revenues:
Software 723 20 1,166 56
Maintenance, consulting and other 1,666 525 4,877 1,290
------- ------- ------- -------
Total cost of revenues 2,389 545 6,043 1,346
------- ------- ------- -------
Gross margin 30,228 10,626 70,573 22,080
Operating expenses:
Product development 3,352 1,685 8,774 3,836
Sales and marketing 15,950 5,443 36,778 12,049
General and administrative 2,456 1,395 6,930 2,823
------- ------- ------- -------
Total operating expenses 21,758 8,523 52,482 18,708
------- ------- ------- -------
Operating income 8,470 2,103 18,091 3,372
Other income, net 726 442 2,103 671
------- ------- ------- -------
Income before income taxes 9,196 2,545 20,194 4,043
Income tax expense 3,494 952 7,674 1,551
------- ------- ------- -------
Net income $ 5,702 $ 1,593 $12,520 $ 2,492
======= ======= ======= =======
Net income per share $ 0.14 $ 0.04 $ 0.31 $ 0.06
======= ======= ======= =======
Shares used in net income per share
computation 40,702 39,982 39,820 38,920
======= ======= ======= =======
</TABLE>
-4-
<PAGE>
SIEBEL SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
<TABLE>
<CAPTION>
September 30, December 31,
1997 1996
---- ----
Assets
------
(unaudited)
<S> <C> <C>
Current assets:
Cash and cash equivalents $ 22,631 $ 22,671
Short-term investments 53,362 49,716
Accounts receivable, net 31,337 12,855
Deferred income taxes 1,067 1,067
Prepaids and other 5,676 4,258
-------- --------
Total current assets 114,066 90,567
Property and equipment, net 10,701 8,310
Other assets 1,103 624
-------- --------
Total assets $125,870 $ 99,501
======== ========
Liabilities and Stockholders' Equity
------------------------------------
Current liabilities:
Accounts payable $ 1,638 $ 3,107
Accrued expenses 17,831 6,768
Income taxes payable 1,050 2,018
Deferred revenue 8,200 6,212
-------- --------
Total current liabilities 28,719 18,105
Deferred income taxes 205 205
-------- --------
Total liabilities 28,924 18,310
Stockholders' equity:
Common stock 35 34
Additional paid-in capital 80,081 77,359
Notes receivable from stockholders (406) (508)
Deferred compensation (625) (1,035)
Retained earnings 17,861 5,341
-------- --------
Total stockholders' equity 96,946 81,191
-------- --------
Total liabilities and stockholders'
equity $125,870 $ 99,501
======== ========
</TABLE>
-5-
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