I2 To Post 2Q Loss, 2 Execs Quit

Supply-chain management software vendor i2 Technologies Inc. continues to shuffle the ranks of key executives as it tries to stem the losses. The company says it will post losses of $85 million to $88 million on revenue of $117 million to $120 million for the second quarter, which ended June 30. License revenue for the quarter is expected to be $25 million to $26 million, the company said in a pre-disclosure of its quarterly results Tuesday. In the same quarter last year, the company reported $241 million in revenue, including license revenue of $106 million.

The company also disclosed the resignations of Philip Crawford, president of i2's Europe, Middle East and Africa (EMEA) division, and Katrina Roche, the company's chief marketing officer. I2 says they're leaving to pursue other career opportunities. The company's shrinking revenue resulted in the resignation of CEO Greg Brady in April and the reappointment of founder Sanjiv Sidhu as chairman and CEO.

Sidhu blames a general weakness in the software market for the company's losses but predicts that further cost-cutting will make it possible for i2 to reach the break-even point within three to four quarters. "We can become leaner, and we'll become a more efficient organization. We'll be prepared for the rebound when it occurs," Sidhu says.

Longtime i2 executive Henk Verkou will become chairman and acting president for i2 EMEA. He has led i2 organizations in Japan and in Germany, and has served as i2's executive VP of international business development. Jim Contardi, former i2 senior VP for worldwide field operations, will assume responsibilities as senior VP and chief operating officer for i2 EMEA. Additionally, Janet Eden-Harris, former chief marketing officer for i2-acquired Aspect Development Corp. and VP of marketing for the i2 Americas region, has been named i2 chief marketing officer.