i2 announces $115 M Q3 revenue

By siliconindia   |   Friday, 18 October 2002, 19:30 IST
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i2 Technologies, a provider of value chain management solutions, reported total revenues for the third quarter 2002 of $115 million, compared to $120 million in the second quarter of 2002 and $201 million in the third quarter of 2001.

DALLAS: Total revenues include software license revenues of $30 million for the third quarter of 2002 versus $26 million in the second quarter of 2002 and $68 million in the third quarter 2001. i2 (Nasdaq:ITWO) reported a GAAP loss per share of $0.46 for the third quarter of 2002, compared to a loss of $1.77 per share in the second quarter of 2002 and $13.25 per share in the third quarter of 2001. Excluding amortization of intangibles, restructuring charges and adjustments, i2's net loss is $0.12 per share, as compared to a loss of $0.18 in the second quarter of 2002 and a loss of $0.13 for the third quarter last year. "We made significant progress toward our goals in the third quarter. i2 improved execution across many areas of the business including sales, consulting, product development, customer satisfaction, working with our partners, and product quality. We estimate that our adjusted total operating expenses for the fourth quarter will be between $120 and $125 million, which should bring us much closer to our goal of reaching operating breakeven, in spite of a sluggish economy that limits forward revenue visibility," said Sanjiv Sidhu, i2 Chairman and CEO. New customers in the quarter came from all major industry sectors and global regions and include Gap, Inc., Airbus, Raymond Limited, and AngloGold. Current customers turning to i2 to drive additional value from their supply chain initiatives included BAE Systems, Legend Computers, Lucent, and TRW. The company reported 65 customers went live this quarter, resulting in an average of one "go live" on an i2 solution every business day in the quarter. In addition, initial results from the company's quarterly customer satisfaction survey indicate that i2's overall customer satisfaction continues to improve, the company claimed. "As we streamline our operations, we are taking great care to continue to put our customers first," said Sam Nakane, i2 COO. "Even in the midst of our restructuring, we experienced a notable increase in our customers' satisfaction with their implementations. This is a great testimony to the ability of i2ers to execute not only through the restructuring, but in the future. "While there is still much work to be done to complete our turnaround, I am encouraged by the orders we received and the operational progress we made in the third quarter," said Sidhu. "i2ers remain focused, aligned and determined to return i2 to sustainable profitability, and ultimately, growth."