JD Edwards has reported significantly enhanced profitability for its first quarter ended 31 January 2003. On a GAAP basis, net income in the first quarter of fiscal 2003 was $7 million, or $0.05 per share, compared to a loss of $4 million, or a loss of $0.04 per share, in the same period last year.
Total revenue for the first quarter was $206 million. Licence fee revenue grew to $47 million, and services revenue was $159 million.
"JD Edwards` first-quarter results once again demonstrate that we are executing well and delivering on our commitment to improved profitability," says Mike Evans, MD of JD Edwards South Africa. "The company`s profitability exceeded expectations. Net income was the highest level for any first quarter in JD Edwards` history."
By other metrics the company is equally healthy: For instance, its cash position continued to grow and is now at nearly $390 million.
"The company achieved these results by continuing its focus on improving execution across all functional areas," Evans adds, "and continuing to secure new contracts, despite the market`s perception that ERP as a core business is either dead or dying.
"In SA we are experiencing our strongest demand ever," says Evans. "We have signed significant new deals and our pipeline is stronger than it has ever before. The strong pipeline and new business are testament to JD Edwards` ability to compete at the highest level of the market. Our partners and consultants are enjoying the benefits of this surge in demand.
"We are also experiencing significant interest in our integrated business intelligence offerings, and with the release of JD Edwards CRM 2.0, which includes over 175 enhancements, we expect to increase the already high demand."
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