i2 Beats Earnings but Misses on Revenue

The supply-chain software company reports after changing CEOs on Monday.

Author:: Ronna Abramson
Publish date:: Apr 16, 2002 5:52 PM EDT

i2 Technologies

(ITWO)

, the supply-chain software maker whose CEO stepped down Monday, announced earnings Tuesday that beat Wall Street estimates by a penny on revenue that fell short of expectations.

The company said it lost 8 cents a share on $168.4 million in revenue, compared with a loss of $1.90 a share on $356.6 million in revenue in the same period a year earlier. Excluding some charges, i2 said it lost 7 cents a share on a pro forma basis, compared with earnings of 2 cents a share a year ago.

Analysts were expecting a pro forma loss of 8 cents a share on $173 million in revenue, according to Thomson Financial/First Call. The company warned April 3 that it expected a loss of 7 cents to 8 cents a share -- in line with estimates -- on revenue of $165 million to $170 million -- less than Wall Street estimates.

I2, which makes software to help manufacturing companies anticipate and react to customer demands, announced Monday that CEO Greg Brady would step down, replaced by founder and Chairman Sanjiv Sidhu.

"Due to continued economic and execution issues, our revenue for the first quarter fell short of plan," Bill Beecher, i2's CFO said in a press release.

Prior to announcing its results, i2's shares traded up 30 cents, or 7.5%, to close at $4.30. Following the release of its results, shares rose to $4.45 in after-hours trading.