J.D. Edwards & Co. (Nasdaq: JDEC) topped its own downwardly revised forecast in the second quarter.
After market close Wednesday, the enterprise resource planning software vendor reported second quarter net income of $1.7 million, or 2 cents per share, excluding special charges. First Call consensus predicted a profit of a penny per share for the quarter ended April 30.
Not counting $6.4 million in amortization costs, J.D. Edwards reported an operating loss of $20.9 million, at the low end of the range predicted in a warning earlier this month.
Including all items, J.D. Edwards posted a net loss of $2.3 million, or 2 cents per share.
Second quarter revenue of $231 million was stronger than forecast in the preannouncement. License fees increased 22 percent year-over-year to $81.7 million. Services revenue was $149.3 million.
J.D. Edwards had more than $400 million in cash and investments at the end of the second quarter.
Earlier this week, the company announced restructuring plans that include 800 job cuts.
The ERP industry, including companies such as SAP (NYSE: SAP) and PeopleSoft (Nasdaq: PSFT), has generally seen rough times lately as growth has slowed.
Shares of J.D. Edwards closed Wednesday's regular trading down 1 1/2 to 10 1/2, prior to the earnings report.>