J.D. Edwards Logs Solid 3Q

Aug 25, 2002 (08:08 PM EDT)

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Continuing a year-old turnaround, J.D. Edwards & Co. last week reported hefty year-over-year earnings growth on a 9% increase in sales for its third quarter, ended July 31. The enterprise apps supplier posted net income of $9.5 million (8 cents per share) on sales of $229.0 million, compared with a $185.9 million loss ($1.65 per share) on sales of $209.4 million a year ago. The company reported license revenue of $55.0 million, up 10% from a year ago, but CEO Bob Dutkowsky says that's 5% less than management had expected.