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i2 meets Wall Street expectations

Supply chain management software maker i2 Technologies reports flat net income for the first quarter, meeting analysts expectations.

Supply chain management software maker i2 Technologies reported flat net income for the first quarter, meeting analysts' expectations.

i2 posted net income of $4 million, or 5 cents a share, for the first quarter, excluding $3 million to cover acquisition-related charges.

Results met expectations of Wall Street analysts polled by First Call.

That compares with net income of $3.5 million, or 5 cents a share for the first quarter of 1998.

The Irving, Texas-based firm reported revenues of $117.2 million for the quarter ended March 31, an increase of 64 percent over the quarter a year earlier.

License revenues of $74 million helped to drive growth with a 65 percent increase compared to first quarter 1998 licenses of $44.9 million. The company said operating expenses for the quarter were higher than targeted because the company hired more employees than expected in the quarter to prepare for future growth in the supply chain market.

i2's existing customers such as IBM, Compaq, Philips, and others accounted for 54 percent of license revenues, while the company said new customers including Mitsui, Celestica, Russell, and Delta Faucet brought $33.7 million in new licenses.