Enterprise software maker Siebel has blamed a slow market, particularly in the public sector, for its latest round of disappointing financial results.
Revenue for the quarter ending 30 June was between $312m and $314m. This is at the lower end of the company's guidance and below the expectations of financial analysts.
The company expects to post an operating loss of $74m, which includes a $75m restructuring charge.
Siebel chief executive George Shaheen blamed the poor results on delayed deals, many of which were with public sector clients.
Siebel pioneered the software category of customer relationship management (CRM). But the technology downturn signalled a sales decline and saw the rise of hosted solutions such as marketed by Salesforce.com and NetSuite.
The vendor used the end of the fiscal quarter to reveal several new executive appointments following the hiring of long standing board member Shaheen as chief executive in April.
Most notably the company hired former HP OpenView chief Patty Azzarello as chief marketing officer.
Bruce Cleveland was promoted to senior vice president of products, and will head up the company's OnDemand hosted CRM product and the small and medium business division.
Siebel's OnDemand, which competes with Salesforce.com, was the one bright spot for the vendor, showing a 90 per cent revenue growth relative to last quarter, Shaheen said.
The category of hosted application is a strong growth sector for CRM providers. But Siebel came late to the table there and is not well positioned to address the market, warned Fred Landis, research director with analyst firm Frost & Sullivan.
"They feel that they've got the products and solutions there. But it's a cultural chasm [to address the market for hosted CRM]," Landis told vnunet.com.
The addition of yet another disappointing quarter is increasing the pressure on Siebel's current management, he warned, forcing them to show results within the next three to six months.
"It's not a stretch seeing them as being acquired over the next year or two, " said Landis.
Latest Tesla news: Tesla stock price tanks amid reports of 'widening probe' by SEC and claims the base Model 3 loses money
SEC 'probe' takes its toll on Tesla as new research suggests that Tesla loses $6,000 on every $35,000 Model 3
10nm Cannon Lake Core i3-8121U CPUs make a rare outing with Intel's NUC mini PC
'Notorious' Australian child hacker thought he had executed 'flawless' hack
The former employee says that Tesla fired him for bringing the accusations to management internally