Tech Industry

J.D. Edwards surpasses 1Q forecasts

J.D. Edwards (Nasdaq: JDEC) topped the consensus analyst estimate in the first quarter.

After market close Wednesday, the ERP software and services vendor reported fiscal first quarter earnings of $152,000, or breakeven on a per share basis, including amortization. Excluding amortization, J.D. Edwards earned $3.6 million, or 3 cents per share.

First Call's survey of 12 analysts predicted a loss of 2 cents per share for the quarter ended Jan. 31.

Shares of J.D. Edwards shot as high as 48 in afterhours activity on the Island network. The stock closed Wednesday's regular trading at 44 63/64, up 4 27/64 for the session.

Revenue in the first quarter rose to $231.7 million, up from $222.9 million in the year ago period, when J.D. Edwards earned $4.3 million, or 4 cents per share. License fee revenue improved 20 percent year-over-year to $83.3 million. Services revenue of $148.4 million was down from $153.3 million a year earlier.

Wednesday's announcement marks the second straight quarter in which J.D. Edwards earned a surprise profit. The company topped analyst in the fourth quarter when it reported net income of $130,000, or breakeven per share.>