Updated from Jan. 27
widely missed analysts' revenue estimates Tuesday, posting a 42% decline in fourth-quarter revenue that pushed its bottom line into the red.
Early Wednesday, i2 shares were down 45 cents, or 20.5%, to $1.75.
The Dallas, Texas-based supply-chain software maker reported a loss of $7.0 million on a generally accepted accounting principles basis, or 2 cents a share, in the fourth quarter. That compares with net income of $15.8 million, or 3 cents a share, in the same period a year earlier.
Revenue dropped to $97.7 million from $168.9 million a year earlier and fell 16.7% from $117.3 million in the third quarter.
Wall Street analysts expected i2 to earn net income of 2 cents a share on $118.6 million in revenue in the fourth quarter, which ended in December, according to Thomson First Call.
i2, once a highflying tech darling and still the largest pure-play supply-chain vendor, has suffered a delisting from the
, is being investigated by the
Securities and Exchange Commission
and carries significant debt on its books.