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Salesforce.com Earnings Evidence Of A New CRM Power

2005-08-18 10:12:00

The balance of power in the customer-relationship-management market continues to shift, with Salesforce.com Inc. posting another record quarter Wednesday, three weeks after rival Siebel Systems Inc. fell victim to its second consecutive dismal earnings report.

Software-as-a-service pioneer Salesforce broke the $70 million quarterly revenue mark for the first time, pocketed its highest-ever quarterly profit, and pushed its subscriber tally to more than 300,000, building substantial momentum as it heads into its annual DreamForce user conference next month in San Francisco.

For the second fiscal quarter ended July 31, Saleforce reported a profit of $5.0 million, or 5 cents a share, on revenue of $71.9 million, compared with a profit of $1.2 million, or 2 cents a share, on revenue of $40.6 million for the same period last year. And the company isn't expecting its growth to slow. For the current quarter, it's expecting revenue in the range of $78 million to $80 million, an increase of 70% to 78% from a year earlier. Revenue for fiscal 2006 is expected to fall between $298 million and $303 million, an increase of more than 70% over fiscal 2005.

But the numbers don't tell the whole story. During a conference call with analysts, CEO Marc Benioff provided evidence of fast-growing interest in on-demand CRM among large companies, citing deployments during the last quarter at companies such as Merrill Lynch and Citizen's Bank, as well as an expansion of Corporate Express' deployment to 3,000 subscribers.

It all adds up to a study in contrasts. Salesforce appears to be evolving into a legitimate alternative for big corporations even as Siebel's licensing revenue bottoms out, and it's adding as many on-demand subscribers each quarter as Siebel claims in total. "They've come up with just about every tool and trick they can think of to get some of those subscribers on their side," Benioff said during the call without mentioning Siebel by name. Salesforce CFO Steve Cakebread also gave a rare glimpse into the company's retention rates, reporting that fewer than 1% of its subscribers opt out of the service each month.

Meanwhile, Salesforce continues to branch out from its CRM roots as it attempts to push the idea of an on-demand application and information-management platform. Benioff promised significant strategic announcements at DreamForce, and he said the company is making substantial investments in its data centers as it prepares to offer customers ever-larger assortments of online applications and development tools. He also indicated that the company anticipates having to eventually add data centers in Europe and Asia to accommodate anticipated growth in those markets.

Apache Launches Open Source Software-Integration Project
The Apache Software Foundation on Monday launched an open-source project to develop application-integration middleware, a move that could lead to a viable alternative to vendor-supplied products used in service-oriented architectures.
New Oracle Collab Suite Takes Aim At SharePoint
Oracle on Monday shipped its long-promised collaboration suite update. The company also outlined new positioning for the suite, which it said will take on Microsoft Sharepoint directly. Traditionally, OCS has been compared to Microsoft Exchange Server and IBM e-mail offerings.
Amazon.com Offers Book Lovers 'Digital Shorts'
Online retailer Amazon.com is offering short-form literature in digital format from new and established authors.
Study Sheds Light on College Student Online Behaviors
Ninety-one percent of college students living on-campus are online everyday, but few said they would go to a store after being exposed to email ads and pop-ups, according to the latest installment of StudentWatch.
Amazon.com Partners With Photo-Services Provider Shutterfly
Amazon.com on Monday said it has agreed to market and provide on its website online proto services from Shutterfly Inc.
IPTV Will Grow 1000% By 2010: Report
The number of IPTV subscribers will jump tenfold by 2010, according to a new report published by Informa Telecoms & Media.
Bill Gates Tops Poll Of IT's Most Influential
Microsoft co-founder Bill Gates has another trophy to place on his mantelpiece. Gates, who turns 50 in October, was voted the person who has "had the greatest impact on business computing in the past half century" in a poll of IT specialists. The poll was conducted by the IBM Share user group celebrating its 50th anniversary this week in Boston.
Eight Out Of 10 Enterprise PCs Spyware Infected
Even as spyware has become a dirty word and users have been bombarded with stories about its pervasive, pernicious nature, criminals have dramatically expanded their distribution channels and infected an overwhelming majority of enterprise PCs, anti-spyware vendor Webroot said Tuesday as it rolled out its latest stats.
U.S. Broadband Policy Exists -- And Works, Claims NTIA's Gallagher
Administration’s top telecom bureaucrat disputes claims that the U.S. lacks vision and action on expanding broadband services.
EBay, Fandango Strike Marketing Agreement
Online auctioneer EBay Inc. and movie-ticket service Fandango on Tuesday said they have signed a marketing agreement that gives EBay users direct links to advanced ticket sales.


   
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