JD Edwards' profits down - but beats analysts' expectations

NEWS JD Edwards has beaten analysts' expectations and posted higher than expected fourth quarter results. The company reported revenue of $257.6m compared to $307.1m for the same period last year. Wall Street had expected the ERP company to post a loss of one cent per quarter. Instead, the company posted a net income of $3.8m - or three cents per diluted share - compared to $37.7m - 34 cents per diluted share - for the same quarter in 1998. However, licence fee revenues were up 35 per cent. JD Edwards' rivals have also suffered from the recent downturn in the ERP market with many trying to reposition products as Internet-enabled. SAP reported a 64 per cent pre-tax profit decline while Baan reported large revenue losses. Revenues for the third quarter of 1999 were $143m, compared to $195m in the third quarter 1998.