Supply chain management software maker i2 Technologies has managed to turn a profit in its latest quarter, although its revenue is sagging after a series of quarterly losses.
i2 reported second-quarter income of $1m, up from a loss of $936.5m for the same quarter last year. Revenue totalled $122m, down from $162m, and software licence fees represented $17m, down from $19m the previous year.
The company recently completed a crucial reaudit of its finances for the past several years, which accounted for $9m in fees of the total $119m in costs for the quarter.
The quarterly profit is a bit of good news in what has been a relatively dismal year for i2, which has seen a delisting from the Nasdaq stock exchange, a major restructuring and a US Securities and Exchange Commission investigation.
"We have focused heavily in improving i2's operations," Sanjiv Sidhu, i2's chairman and chief executive officer." As a result, I believe that our products, services and operational organisation are well equipped to meet the challenges of the marketplace. We enter the second half of 2003 energised by the opportunities before us."
Marc L Songini writes for IDG News Service