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J.D. Edwards Reports Improved Q1

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Posted February 22, 2002 By internetnews.com Staff     Feedback

The enterprise software ISV announced an increase of nearly $9 million for its pro forma operating income over the first quarter 2001. Earnings Per Share Grow to $0.03.

J.D. Edwards & Co. , the Denver, Colo.-based collaboration software provider, yesterday reported financial results for the first quarter ended January 31, 2002.The firm reported a considerable improvement in its operating results in the first quarter of fiscal 2002 over the first quarter of fiscal 2001. Pro forma operating income was $5.6 million, up from a pro forma operating loss of $3.0 million in the first quarter of fiscal 2001.

Pro forma net income was $3.7 million, or $0.03 per diluted share, compared to $191,000, or $0.00 per diluted share in the same period of fiscal 2001.

Total revenue for the first quarter of fiscal 2002 was $200.6 million, compared to revenue of $217.7 million in the first quarter of fiscal 2001.

License fee revenue was $43.9 million in the first quarter of fiscal 2002, compared to $82.7 million in the same period last year.

Services revenue grew to $156.6 million, up from $135.0 million in the first quarter of fiscal 2001. Pro forma results exclude acquisition-related and restructuring charges. The actual net loss, including acquisition-related and restructuring charges, was $4.1 million, or $0.04 per share for the first quarter of fiscal 2002, compared to a net loss of $4.4 million, or $0.04 per share, in the first quarter of fiscal 2001.

The actual net loss for the quarter ended January 31, 2002 included a one-time charge of $4.6 million for in-process research and development in connection with the acquisition of YOUcentric, Inc. in November 2001.

"I'm encouraged by our solid first quarter results," said J.D. Edwards CEO and President Bob Dutkowsky.

"Even in a difficult economic environment, we delivered better than expected revenue and operating results. Our performance demonstrates that there is considerable leverage in our business model. With our comprehensive offering of collaborative software solutions and our focused, dedicated employee base, I feel very good about the future of J.D. Edwards," he added.

Customer transactions and other recent highlights include:

  • The appointment of Robert M. (Bob) Dutkowsky as President and Chief Executive Officer whose experience includes a 20-year tenure at IBM. He will also become the Company's Chairman at its annual stockholders meeting in March 2002.

  • The company released CRM version 1.1 in December 2001, less than one month after J.D. Edwards acquired CRM vendor YOUcentric, Inc. The integrated, collaborative CRM solution CRM provides a unified business process to handle customer interactions, including sales leads, price quotes, order entry, delivery and billing.

  • The release of Advanced Planning 4.0. including enhancements such as new scenario simulation capabilities and web enhancements, as well as Demand Consensus, a new collaborative forecasting module.

  • The firm signed new license agreements with Appleton Papers, Inc., R.R. Donnelley & Sons Company, British Sugar Plc., Peek Holding Corp., Societe L. Vuitton Malletier, Thiess Pty Ltd., Gammon Construction Ltd., United Industries Corporation, Boise Cascade Office Products Corp., Enersource Corp., and Thermadyne Holdings Corp.

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