Ailing supply chain management software maker i2 Technologies Inc. posted a profit for its third quarter, despite a considerable decline in revenue.
The once red-hot Dallas-based company today announced third-quarter earnings of $7 million on revenue of $117 million -- a precipitous drop from earnings of $34 million on $374 million in revenue for the same quarter last year. The company reported earnings of 2 cents per share for the quarter, which ended Sept. 30, compared with break-even results in the second quarter and earnings of 7 cents per share in the third quarter of 2002.
Software licenses this quarter totaled $14 million, down from $21 million in the same quarter last year.
I2 officials, who have recently announced plans to focus on growth for 2004 (see story), chose to look on the bright side of the results. "Across many of the key metrics we track, there are signs that the market for our products and services is beginning to strengthen," said Sanjiv Sidhu, i2's chairman and CEO, in a statement. "These signs indicate that the fourth quarter may be a turning point for i2."