i2 Technologies beats Street, sets 2-for-1 stock split
By Larry Barrett ZDII
i2 Technologies beat the Street in its third quarter Tuesday, earning $28.8 million, or 12 cents a share, on sales of $319.5 million. It also set a 2-for-1 stock split.
The e-commerce software developer was expected to earn 10 cents a share in the quarter, according to a survey of analysts by First Call Corp.
i2 (Nasdaq: ITWO) shares closed off $5 to $179.06 ahead of the earnings report.
The $319.5 million in sales marks a 118 percent improvement from the year-ago quarter when it earned $10 million, or 6 cents a share, on sales of $146.3 million.
Sound off here!!
Post your comment
Latest News on ITWO
i2 Technologies beats Street, sets 2-for-1 stock split...
i2 Technologies Q3 revenue, operating earnings soar...
i2 Technologies declares 2-for-1 stock split...
ITWO: News Profile Chart Estimates
"We see tremendous opportunities to continue selling our industry-leading supply chain management solutions into this under-penetrated market," said CEO Sanjiv Sidhu in a prepared release. "In addition, we have again expanded our potential market with new collaborative procurement and multi-enterprise order management solutions."
Licensing sales jumped 128 percent to $201.6 million compared to $88.6 in the year-ago quarter.
Including one-time items, the company lost $755.7 million, or $3.83 a share, compared with a profit of $5.7 million, or 3 cents a share, in the year-ago quarter.
Company officials said the 2-for-1 stock split will take effect on Dec. 4.
i2 hurdled analysts' estimates last quarter, posting a profit of $19.1 million, or 10 cents a share, on sales of $242.6 million.
The stock rallied up to a 52-week high of $223.50 in March after falling to a low of $23.13 last October.
Thirty-four of the 38 analysts following the stock maintain either a "buy" or "strong buy" recommendation.
Analysts are forecasting a profit of 42 cents a share in the fiscal year. |
