This paper empirically and longitudinally examines relationships among corporate strategy, competitive advantage of information technology (CAIT), and organizational performance. This research replicates the research done in 1997 and compares the results to observe any noticeable changes. Research results confirm that information technology provides several traits of strategic advantages such as efficiency, threat, functionality, preemptiveness, and synergy and significantly contributes to corporate performance both in 1997 and 2004. The findings reinforce the accepted belief that alignment between corporate strategy and CAIT is critical for firms to attain sustainable competitive advantage, subsequently enhances corporate performance and competitive position against rivals, potential entrants, substitutes, suppliers, and buyers. Research results of 2004 show stronger relationships among corporate strategy, competitive advantage of information technology, and organizational performance than research results of 1997.