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To: Lizzie Tudor who wrote (13584)	8/22/2002 2:12:49 PM
From: stockman_scott	Respond to of 57684

J.D. Edwards Rises as 3rd-Qtr Profit Tops Estimates By Ashley Gross Denver, Aug. 22 (Bloomberg) -- J.D. Edwards & Co. shares climbed as much as 18 percent after the software maker, whose programs let companies track inventory and sales, reported third- quarter profit that topped forecasts. The stock rose $2.15 to $14 at 12:45 p.m. New York time on the Nasdaq Stock Market. The shares have fallen 15 percent this year, compared with a 45 percent drop in the Standard & Poor's 500 Application Software Index of 10 companies. Chief Executive Robert Dutkowsky, who took the helm in January, has pushed the Denver-based company to cut costs and introduce new programs to compete with bigger rivals such as SAP AG, Oracle Corp. and PeopleSoft Inc. Dutkowsky has focused on closing sales more quickly, an analyst said. ``They're cracking the whip in the sales channel,'' said Ken Carey, an analyst at UBS Warburg, who has a ``buy'' rating on J.D. Edwards and doesn't own the shares. ``The management team has really reinvigorated the entire company.'' Net income was $9.47 million, or 8 cents a share, in the quarter ended July 31, compared with a net loss of $185.9 million, or $1.65, in the year-earlier quarter, J.D. Edwards said in a statement yesterday. Sales climbed 9.4 percent to $229 million from $209.4 million. Profit in the recent period was expected to be 6 cents a share, the average estimate of nine analysts surveyed by Thomson First Call. Sales were forecast to be $222.2 million. Dutkowsky, a former Teradyne Inc. and International Business Machines Corp. executive, replaced Chief Executive C. Edward McVaney, who founded the company along with two partners in 1977.