After a two-year hiatus, shares of supply chain management software maker i2 Technologies will become available once more for trading on the Nasdaq stock exchange.
Last Thursday, the Dallas-based vendor announced that the Nasdaq Listing Qualifications Panel had decided it would allow i2 common stock to sell beginning this Thursday. Nasdaq began delisting efforts against i2 in late March 2003, seven years after the company's initial public offering.
At that time, i2 had explained it was being yanked because it couldn't meet Nasdaq's reporting requirements, since it was conducting a reaudit of its finances. The company's stock has been trading on the National Quotation Service Bureau, or the Pink Sheets, since May 9, 2003.
"The relisting of our stock on The Nasdaq National Market will represent another important milestone as we continue to make progress towards returning i2 to profitability," recently installed i2 CEO Michael McGrath said in a statement. "We are pleased with our positive progress and remain focused on delivering value to our customers and shareholders worldwide."
Last week, the company announced that it had retooled its structure for a vertical focus. To that end, i2 will collapse sales, service and industry marketing into four main areas. One unit will serve consumer electronics, apparel and footwear, and telecommunications companies; A retail and distribution group will focus on fashion and department stores and third-party logistics providers; A third unit will cater to the the automotive, aerospace and defense, and metals industries. And a high-tech unit will focus on semiconductor makers, contract manufacturers and computer industry and telecom equipment OEMs.
"This new organization structure will enable us to be more efficient in selling our solutions, software products and services, and provide us with the increased industry focus needed to accelerate our growth through better penetration of these industries," said McGrath.