8-K

UNITED STATES
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

April 4, 2003

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 incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

2207 Bridgepointe Parkway
San Mateo, CA   94404
(Address of principal executive offices, including zip code)

(650) 477-5000
(Registrant's telephone number, including area code)

Item 9. Regulation FD Disclosure.

This Form 8-K is being furnished to report information pursuant to Item 12 -- Disclosure of Results of Operations and Financial Condition. See Item 12 below.

Item 12. Disclosure of Results of Operations and Financial Condition.

On April 4, 2003, Siebel Systems, Inc. issued a press release announcing preliminary results for the quarter ended March 31, 2003. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

Item 7. Financial Statements and Exhibits.

(c) Exhibits.

99.1 Press Release, dated as of April 4, 2003, entitled "Siebel Systems Reports Preliminary Revenue and Earnings for the Quarter Ended March 31, 2003."

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

SIEBEL SYSTEMS, INC.

(Registrant)

Dated: April 4, 2003

By:  /s/ Kenneth A. Goldman

Kenneth A. Goldman

Senior Vice President,
Finance and Administration
and Chief Financial Officer

INDEX TO EXHIBITS

99.1 Press Release, dated as of April 4, 2003, entitled "Siebel Systems Reports Preliminary Revenue and Earnings for the Quarter Ended March 31, 2003."

EX-99.1

Exhibit 99.1

NEWS RELEASE

Siebel Systems Reports Preliminary Revenue and Earnings
for the Quarter Ended March 31, 2003

SAN MATEO, Calif.-April 4, 2003-Siebel Systems, Inc. (NASDAQ: SEBL), a leading provider of eBusiness applications software, today announced preliminary results for the quarter ended March 31, 2003.

The Company expects total revenues for the first quarter of 2003 to be in the range of $330 million to $335 million and license revenues to be approximately $112 million.

Net income after taxes is expected to be in the range of $3 million to $5 million for the first quarter. The Company's estimated cash, cash equivalents, and short-term investments were approximately $2.22 billion as of March 31, 2003, an increase of approximately $60 million in the quarter.

Like many information technology companies, Siebel Systems operated in an environment of continued global economic deterioration as the quarter progressed. This deterioration resulted in a number of customers unexpectedly postponing purchase decisions beyond the end of the quarter. While the Company believed the sales pipeline remained sufficient to meet its sales projections for Q1, a few transactions were postponed late in the quarter. Had these transactions not been postponed, the Company would have been within its license revenue and earnings guidance for the quarter.

"We continue to be optimistic about the medium- and long-term potential for Siebel Systems," said Thomas M. Siebel, CEO of Siebel Systems. "We are financially rock solid with over $2.2 billion in cash. We continue to demonstrate clear product, customer and CRM market leadership. We are well positioned to differentially benefit as the economy recovers."

Siebel Systems will host a conference call today at 4:30 p.m. EST (1:30 p.m. PST) to discuss its preliminary results. The call can be accessed live over the Internet at www.siebel.com/investor or by dialing (888) 353-7307 in the U.S. or (415) 537-1912 outside the U.S. A replay of the call will be available through April 11, 2003 over the Internet through the same Web site, or by calling (800) 633-8284 in the U.S. or (402) 977-9140 outside the U.S., with reservation number 21139524.

Final first quarter financial results will be reviewed during the Company's regularly scheduled conference call on April 23, 2003 at 5:00 p.m. EDT (2:00 p.m. PDT).

About Siebel Systems
Siebel Systems, Inc. is a leading provider of eBusiness applications software, enabling corporations to sell to, market to, and serve customers across multiple channels and lines of business. With more than 3,500 customers worldwide, Siebel Systems provides organizations with a proven set of industry-specific best practices, CRM applications, and business processes, empowering them to consistently deliver superior customer experiences and establish more profitable customer relationships. Siebel Systems' sales and service facilities are located in more than 28 countries.

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Contact:
Siebel Systems Investor Relations Department
650.295.5656
investor.relations@siebel.com