JD Edwards reports better 2001 and outlook

With earnings per share up 350% over fiscal 2000, JD Edwards’ financial results for the fourth quarter and fiscal year ended October 31 2001 look healthy indeed. Total revenue was $874 million and net income from normalised operations $20.3 million, compared to $4.9 million, in 2000. It all happened in the last quarter. Total revenue for the fourth quarter was $235.4 million, license fees were $76.9 million (up 54% over Q3) and services were up marginally at $158.6 million, resulting in net income of $20.4 million, compared to a loss of $3.2 million in Q3. Says CEO Ed McVaney: “We saw improvements in many aspects of our business this quarter. In addition to strong sequential growth in revenue and earnings driven by solid execution by our sales and services teams and focus on cost controls, we generated nearly $60 million in cash flow from operations. “With a clearly defined market focus and our broad integrated product offering that includes supply chain and now customer relationship management, I feel that JD Edwards is very well positioned for the future.” And with the firm having completed its acquisition of CRM software vendor YOUcentric, the firm says it’s now in the first phase of product integration ready to move on “to quickly capture demand in the CRM market”.