Siebel Doubles Profit

The software maker's earnings are in line with its earlier preannouncement.
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Siebel Systems

(SEBL)

nearly doubled its third-quarter net income and grew revenue by 10%.

The numbers reported after Wednesday's close were in line with the business software maker's preannouncement earlier this month, and may be the next-to-last report the company files on a stand-alone basis.

The company

has agreed to be acquired by

Oracle

, and the merger is expected to close in early 2006, pending regulatory approval.

Net income in the September quarter was $34.7 million, or 6 cents per diluted share, compared with $18.3 million, or 3 cents a diluted share in the same quarter of 2004.

Revenue was $348 million, up from $317 million. The value of software licenses grew to $112 million from $104.5 million. Service and maintenance revenue also grew -- from $212.5 million to $235.7 million.

There has been little interest in the stock lately, and analysts apparently did not revise estimates after the preannouncement. They had been expecting a 5-cent profit on sales of $332.9 million.

Siebel were recently up 4 cents to $10.39 in after-hours trading, after closing the regular session at $10.35.