Siebel hits targets

NEWS Careful cost controls helped Siebel meet Wall Street's expectations but it is far from confident about the future. Sales for the second quarter were $549.7m compared to $397.5m for the same period in 2000. Profits were up to $76.6m, from $49.1m. Tom Siebel, chief executive of Siebel, told a conference call: "It's tough and it's going to get tougher." Siebel warned income for third and fourth quarters will fall short of analysts' expectations. The company predicted sales of between $250m and $350m for the third quarter, rising to around $350m for the fourth quarter.