J.D. Edwards' losses broaden in Q3

August 24, 2001 —

Business-software developer J.D. Edwards and Co. reported broader net losses for its fiscal third quarter, citing weaknesses in its core manufacturing and distribution sector, although it beat expectations on losses excluding some items.

The company posted a net loss of $185.9 million, or $1.65 per basic share, for the quarter ended July 31, compared to a net loss of $22.6 million, or $0.21 a share for the same period last year.

The net loss from normalized operations, excluding aquisition-related charges, restructuring changes and a one-time valuation allowance for deferred tax assets, came in at $3.2 million, however, or $0.03 a share. This beat a Thomson Financial/First Call survey of analysts who predicted a loss of $0.08 a share.

Earlier this month, the company said that it was expecting a loss of $0.10 a share on "normalized" operations, with revenue of about US$200 million.

Total revenue for the quarter came in slightly above the company's guidance, tallying $204.2 million; however, this was a 22-percent drop compared to the second quarter of last year.

Of the total revenue for the second quarter of this year, $50 million came from licensing fees and $154.2 million came from services.

J.D. Edwards, based in Denver, Colorado, can be reached at +1-303-334-4000, or online at http://www.jdedwards.com/.

ITworld.com