i2 Technologies announces record annual turnover with over $200 million in revenues

Citation

(1998), "i2 Technologies announces record annual turnover with over $200 million in revenues", Assembly Automation, Vol. 18 No. 2. https://doi.org/10.1108/aa.1998.03318bab.006

i2 Technologies announces record annual turnover with over $200 million in revenues

i2 Technologies announces record annual turnover with over $200 million in revenues

Keywords Financial reports, i2 Technologies, Revenue, Supply-chain management

i2 Technologies, provider of intelligent planning and optimisation software for global supply management, announces record annual revenues for 1997. Revenues were $200.7 million compared to total revenues of $87.9 million in 1996, resulting in a 128 per cent increase and confirming i2's position as the leading provider of supply chain optimisation and decision support solutions, claims the company.

Licence revenues of $134.7 million for the year led this growth with a 134 per cent increase over 1996 licence revenues of $57.5 million. Operating income increased by 139 per cent, excluding $9.3 million of non-recurring acquisition-related costs and the completion of in-process research and development in connection with several strategic acquisitions completed during the year. Aside from these one-off charges, net income for 1997 increased by 93 per cent to $13.9 million, or $0.41 per share, on a diluted basis. This compares with the 1996 net income of $7.2 million, or $0.23 per share, on a diluted basis. The acquisition-related charges, net income and earnings per share ended the year at $7.2 million or $0.21 per share. All prior year results have been restated to reflect the pooling of Think Systems Corporation and Optimax Systems Corporation, acquired in the second quarter of 1997.

"I am pleased to say i2's growth in 1997 is evidence that we are successfully executing our strategy to maximise value for our customers, broaden our product offerings and aggressively increase market share," says Sanjiv Sidhu, CEO of i2 Technologies. "Our customers continue to drive our exceptional growth rate, which again outpaced the market growth rate and extended our market share lead. We are proud to be the first supply chain solution provider to pass both the $100 and $200 million revenue marks in the same year. Our strategic acquisitions in the last year have greatly contributed to this growth by extending our product offerings, customer base and organisational depth."

i2 also had a record fourth quarter in 1997 with $62.1 million in revenues, compared to total revenues of $30.8 million in the fourth quarter of 1996. Licence revenues accounted for $42.0 million, or 68 per cent of total revenues, for the fourth quarter of 1997, compared with $19.0 million, or 62 per cent of total revenues, for the fourth quarter of 1996. Net income for the quarter increased by 68 per cent to $5.6 million, or $0.16 per share, excluding the completion of in-process research and development expenses of $3.6 million related to the acquisition of M-Star Systems Ltd, a provider of global logistics management support. Net income and earnings per share, including the impact of the acquisition were $1.9 million, or $0.06 per share, compared to fourth quarter 1996 net income of $3.3 million, or $0.10 per share.

Contact Aisling Foley, i2 Technologies. Tel: 32 2 717 6628; Web site at http://www. i2.com