Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : J.D. Edwards debut! (JDEC) -- Ignore unavailable to you. Want to Upgrade?

To: Philip W. Dunton, Jr who wrote (380)	5/3/1999 4:30:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 583

J.D. Edwards Announces Preliminary Results for the Second Quarter of Fiscal 1999 DENVER--(BUSINESS WIRE)--May 3, 1999--J.D. Edwards & Company (NASDAQ: JDEC) today announced preliminary results for the second fiscal quarter ended April 30, 1999. For the quarter, the company expects to report total revenue in the range of $215 million to $235 million, which represents approximately three percent to 12 percent growth over revenue of $209 million in the second quarter of fiscal 1998. License fee revenue is projected to be in the range of $60 million to $65 million. Revenues were adversely impacted by a general slowdown in demand for enterprise software as companies continue to focus resources on ensuring Year 2000 readiness. The Company expects to report an operating loss which could exceed $25 million, mainly due to lower than anticipated license fee revenue, the full quarter impact of headcount additions made in the first fiscal quarter, investments in product development as well as sales and marketing, and a $2.1 million write-off of in-process research and development as a result of the acquisition of The Premisys Corporation. Financially, the Company remains very healthy, with approximately $500 million in cash and investments, and no debt. The Company made strategic investments in the second quarter to prepare it to capitalize on future market opportunities. "We are continuing to operate our business to position us for long-term success," said Doug Massingill, President and Chief Executive Officer of J.D. Edwards. "Recent investments in product development and marketing initiatives, along with the investments in sales force hiring completed in the first quarter, are designed to provide long-term benefits to the company." Final results for the quarter will be released on May 26, 1999. The information in this press release regarding expected total revenue, license fee revenue, and operating income 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 the failure of contracts to meet revenue recognition rules, the large component of business partner services revenue that is still being reported to the Company and other adjustments that may arise as results are finalized. 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 and AIMx supply chain solutions, 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 recorded 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, 303/334-4772 etta_west@jdedwards.com