i2 reports third quarter profit


i2 reports third quarter profit

Despite shrinking revenue during the past quarter, growing software licence sales and rising earnings have supply chain management applications supplier i2 Technologies  guardedly optimistic about the future.

The company has reported licence revenue of $17m (£9.3m) for the third quarter, up from $14m in the same quarter the prior year, and revenue of $111m, down from $117m in the third quarter of 2003. 

Net income was $17m, up from $7m in the same quarter last year. 

"We continue to make progress toward our goals of achieving operating profitability and long-term growth," Sanjiv Sidhu, i2's interim chief executive officer, said.

"In the third quarter, we strengthened many key fundamentals of our business, including revenue growth from operations, strengthening our next-generation supply chain products and adding new customers." 

Sidhu said there were several strategic wins for i2 in the quarter, including sales to General Motors and Kia Motors America. In addition, the company intends, in December, to submit an appeal to Nasdaq Stock Market asking it to relist the company's stock for trade.

Sidhu also said that i2 is still seeking a full-time chief executive to replace him, although he will remain chairman.

Marc L Songini writes for Computerworld

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