i2 Technologies (ITWO) was down 11.3% in preopen Island trading after it posted a third-quarter loss that includes a massive write-off of an acquisition and announced that it would cut 1,000 jobs, or 20% of its staff.
The business-to-business software company posted a loss of $13.25 per share including the effects of a $4.7 billion write-off of its March 2000 acquisition of
. i2 lost $1.91 per share a year ago.
Excluding the acquisition charge and other items, i2 posted a loss of 13 cents a share compared to a profit of 7 cents a year earlier. Analysts had expected a loss of 13 cents, according to Thomson Financial/First Call.
The company, citing tough economic conditions and slower customer spending in the aftermath of the Sept. 11 attacks, said revenue fell sharply to $194 million from $320 million.
i2, which has already cut 20 percent of its staff this year in two separate rounds of layoffs, declined to give any financial guidance for the fourth quarter or coming year.