J.D. Edwards Announces Preliminary Results for the First Quarter of Fiscal 1999
DENVER--(BUSINESS WIRE)--Feb. 11, 1999--J.D. Edwards & Company (NASDAQ: JDEC) today released preliminary results for the first fiscal quarter ended January 31, 1999.
For the quarter, the company expects to report total revenue in the range of $218 million to $223 million, which represents approximately 22 percent to 25 percent growth over revenue of $178.3 million in the first quarter of fiscal 1998. Services revenue growth was strong and is expected to be in the range of $150 million to $153 million. License fee revenue is projected to be in the range of $68 million to $70 million. The company also expects to report earnings per share between $.02 and $.04. Final results for the quarter will be released on February 23, 1999.
The company attributes the less than expected license fee growth in the first quarter of fiscal 1999 to external market and competitive factors as well as the slower than expected realization of benefits from internal operational changes. External factors that adversely impacted the quarter included the continued downturn in global economic conditions, an unanticipated slowing in software purchases as companies increasingly focus on ensuring Year 2000 readiness, and newly intensified competitive pressures.
The information in this press release regarding expected total revenue, license fee revenue, services revenue, and earnings per share is forward-looking and preliminary in nature. Words such as "expects," "projects" and similar expressions have been used to identify these forward-looking statements, but are not the exclusive means of identifying such statements. These statements reflect J.D. Edwards' current beliefs and are based on information currently available to J.D. Edwards. Actual results could differ materially, depending on a number of factors, including global economic conditions, issues surrounding the Year 2000 and strong competitive forces. For a more detailed discussion of information regarding these and other risks that affect the company's operating results, please refer to J.D. Edwards & Company's Annual Report on Form 10-K for the fiscal year ended October 31, 1998 and future quarterly reports on Form 10-Q. The Company undertakes no obligation to update or revise these forward-looking statements.
About J.D. Edwards
J.D. Edwards provides Idea to Action(TM) software for managing the enterprise and supply chain. The Company's integrated applications give customers control over their front office, manufacturing, logistics/distribution, human resources and finance processes for the consumer products, industrial and services industries. J.D. Edwards enables Idea to Action with ActivEra(TM), a collection of tools and technologies that extend the J.D. Edwards SCOREx supply chain solution and OneWorld(TM) and WorldSoftware(TM) enterprise business software. ActivEra allows customers to change their enterprise software quickly and easily during and after implementation. The Company's solutions operate in multiple computing environments, including Windows NT(R), UNIX(R) and OS/400(R), and are Java(TM) and HTML enabled.
Founded in 1977, J.D. Edwards is headquartered in Denver and posted fiscal 1998 revenues of $934 million. Additional information can be obtained by contacting the Company at 1-800-727-5333 or via the Internet at www.jdedwards.com.
Copyright(c)J.D. Edwards World Source Company, 1999. J.D. Edwards is a registered trademark of J.D. Edwards & Company. The names of all other product and services of J.D. Edwards used herein are trademarks and registered trademarks of J.D. Edwards World Source Company.
CONTACT:
J.D. Edwards, Denver
Etta West, Investor Relations, 303/334-4772
etta_west@jdedwards.com |
