I2 Beats Street, Breaks $1B Sales Mark

I2 Technologies not only beat analysts' projections for the fourth quarter, it beat its own year-end goal.

The marketplace software maker posted income of $44 million, or 9 cents per share, on sales of $377 million for its fourth quarter ended Dec. 31. Analysts expected earnings of 8 cents per share, according to First Call.

These numbers exclude amortization, write-offs of research and development, onetime charges and net losses on minority investments. Including these items, i2 posted a loss of $727 million, or earnings of $1.80 per share. In the same quarter a year ago, i2 saw income of $15 million and earnings of 4 cents per share.

For the year, i2 posted a loss of $1.75 billion, or $4.83 a share, on sales of $1.1 billion, compared with $24 million, or earnings of 7 cents a share, on sales of $571 million in the year-ago period.

Company executives were pleased to break the $1 billion mark.

For the current quarter, i2 CFO Bill Beecher says he anticipates revenue of $361 million and earnings per share at 6 cents per share. For 2001, the company forecasts revenue of $1.64 billion and earnings of 37 cents per share, Beecher says.

While i2 hasn't felt the slowdown pain other companies have, it does anticipate softness in traditional e-business platform sales for the current year, says i2 President Gregory Brady.

The supply management chain and CRM are expected to heat up, Brady says.

"The supply chain business has really taken off lately," he says. "A lot of people are looking for supplier management tools."

I2 aims to reach $5 billion in sales within three years, says Sanjiv Sidhu, CEO of the company.

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