i2 Technologies May Look for Buyer, as EPS Beats Estimates

Thursday morning, i2 Technologies (ITWO) announced that it has formed a “strategic review committee” of independent directors to consider options for enhancing shareholder value, including the possible sale of the company. The company in recent months has come under pressure from several investors asking i2 to find a buyer. In its announcement, i2 said that it has been working with J.P. Morgan (JPM) since early this year concerning “an ongoing review of the company’s management, operations and strategy.”

Meanwhile, i2 also Thursday reported third quarter revenue of $66.5 million and pro forma EPS of 24 cents a share, nicely ahead of the Street estimates at $63.7 million and 12 cents. For the full year, the company sees revenue of $263.5 million to $266.5 million, with profits of 55-65 cents a share on a GAAP basis, or 82-92 cents non-GAAP. The Street has been looking for $261.6 million in revenue and EPS of 45 cents GAAP, 81 cents non-GAAP.

Thursday morning, i2 shares are up 80 cents, or 4.7%, at $17.76.