not sure about these #s. license rev of $14m down from last q and total revs mostly restatement of deferred rev. they post a profit but go thru a net of $18m in cash. ceo says its a turning point. comments?
i2 Announces Third Quarter 2003 Results
DALLAS--(BUSINESS WIRE)--10/21/2003--i2 Technologies, Inc. (OTC:ITWO) today announced its results for the third quarter ended September 30, 2003. The Company reported earnings of $0.02 per share for the third quarter of 2003, as compared to breakeven results in the second quarter of 2003 and earnings of $0.07 per share in the third quarter of 2002.
"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 chairman and CEO. "These signs indicate that the fourth quarter may be a turning point for i2."
i2 reported total revenues of $117 million in the third quarter of 2003, compared to $122 million in the second quarter of 2003 and $374 million in the third quarter of 2002. Software license revenues totaled $14 million for the third quarter of 2003, compared to $17 million in the second quarter of 2003 and $21 million in the third quarter of 2002.
Total revenues for the third quarter also included $36 million in contract revenue consisting of $31 million in revenue deferred from earlier periods as a result of the Company's recent restatement and $5 million in revenue attributable to development services projects.
Total costs and operating expenses for the third quarter of 2003 were $103 million, including approximately $4 million of expenses related to contract revenue which were deferred from prior periods as a result of the Company's recent restatement. This compares to $119 million in total costs and operating expenses in the second quarter of 2003 and $331 million in the third quarter of 2002, which included an $89 million restructuring charge. Operating income for the third quarter of 2003 totaled $14 million.
The Company ended the quarter with $337 million in total cash and investments, a decrease of $18 million from the prior quarter.
Management will host a conference call with investors to discuss third quarter results at 4 p.m. Central today. The call is available via webcast at i2.com. |
