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ITWO - a longer term BUY - wait for pullback

  • 06:17 ET i2 Tech earnings color (ITWO) :-Update- Reuters is telling us that, excluding the Gain on sale of securities ($11 mln) and restructuring benefit ($0.2 mln) offset by the Legal Expenses ($1.4 mln), actual earnings of $1.18 per share is comparable to analysts' estimates, meaning i2 beat analyst's $(0.23) estimate by $1.41... see 17:48 comment for full earnings report.
  • 06:17 ET I2 Technologies conference call details (ITWO) 13.00 -0.03:Analysts offer praise and congratulations for ITWO management on call. Analysts said they are IMPRESSED with what new CEO has accomplished; they want to know how long he'll stick around -- CEO says he's just getting started at the co, says he's "having a lot of fun." Several wanted to know how ITWO plans to cut debt; co says it has a multi-pronged plan, will continue to look at non-core businesses it can sell, licensing opportunities for upfront cash, potentially more equity investment, and some longer-term senior debt or a refinancing. ITWO says it expects revs to decline sequentially in Q3, even though it expects to be profitable. Yet co notes its deferred revs increase, says it saw "relief" on behalf of some customers, as they were closing bookings due specifically to the fact that ITWO is addressing its cash-to-debt gap (co has $316.8 mln debt, $298.3 mln cash, for a gap of $18.5 mln). NOTE: ITWO is up $4.15, or 32%, to $17.15 after hours.

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