[October 22, 2009] JDA Software Posts 3Q 2009 Results Tweet Oct 22, 2009 (Close-Up Media via COMTEX) -- JDA Software Group, Inc. has announced financial results for the third quarter ended September 30. In a release on October 19, the Company reported total revenues of $95.9 million and software revenues of $17.3 million for third quarter 2009, compared to total revenues of $98.4 million and software revenues of $23.0 million for third quarter 2008. For the nine months ended September 30, JDA reported total revenues of $278.7 million and software revenues of $60.2 million, compared to total revenues of $284.1 million and software revenues of $58.6 million for the nine months ended September 30, 2008. "We guided to a sequentially lower third quarter software sales result, and the actual third quarter results closed in line with our expectations," said JDA CEO Hamish Brewer. "We also guided to a strong software sales result in the fourth quarter, and today we can reiterate our guidance for second half 2009, including projected software sales between $26 million to $30 million for fourth quarter 2009. Supported by the strong performance from consulting services, I am pleased with the overall EBITDA margin of 25 percent and the $20.0 million of cash flow generated from operations in third quarter 2009." Third Quarter 2009 Financial Summary - Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $24.1 million in the third quarter 2009, compared to $27.0 million in third quarter 2008. - Adjusted non-GAAP earnings for third quarter 2009 were $0.40 per share, compared to $0.42 per share in third quarter 2008, and exclude amortization of acquired software technology and intangibles, restructuring charges, stock-based compensation and bank charges on a credit facility commitment for a prior year terminated acquisition. Adjusted non-GAAP earnings for third quarter 2009 also exclude $8.6 million of cash consideration paid in excess of carrying value on the repurchase of redeemable preferred stock. - GAAP income applicable to common shareholders for third quarter 2009 was a net loss of $2.3 million or ($0.07) per share, which includes $8.6 million of cash consideration paid in excess of carrying value on the repurchase of redeemable preferred stock, compared to GAAP income applicable to common shareholders of $8.2 million or $0.23 per share in third quarter 2008. - Service revenues increased 16 percent to $33.6 million in third quarter 2009 compared to third quarter 2008, and service margins improved year-over-year from 21 percent in third quarter 2008 to 26 percent in third quarter 2009. - Cash flow from operations was $20.0 million in third quarter 2009, compared to cash flow of $18.8 million in third quarter 2008. - Cash and cash equivalents were $85.5 million at September 30, compared to $32.7 million at December 31, 2008, and there was no debt at the end of either period. During third quarter 2009, approximately $30.1 million in cash was used to repurchase redeemable preferred stock. Nine Month 2009 Results - Adjusted EBITDA increased to $69.5 million for the nine months ended September 30, compared to $69.3 million for the nine months ended Septmber 30, 2008. - Adjusted non-GAAP earnings for the nine months ended September 30, were $1.24 per share, compared to adjusted non-GAAP earnings per share of $1.04 for the nine months ended September 30, 2008, and exclude amortization of acquired software technology and intangibles, restructuring charges, stock-based compensation and banking charges on a credit facility commitment for a prior year terminated acquisition. Adjusted non-GAAP earnings for the nine months ended September 30, also exclude $8.6 million of cash consideration paid in excess of carrying value on the repurchase of redeemable preferred stock. - GAAP income applicable to common shareholders for the nine months ended September 30, was $9.2 million or $0.26 per share, which includes $8.6 million of cash consideration paid in excess of carrying value on the repurchase of redeemable preferred stock, compared to GAAP income applicable to common shareholders of $16.7 million or $0.47 per share in the nine months ended September 30, 2008. - Cash flow from operations in the first nine months of 2009 was $80.5 million, compared to $70.7 million for the nine months ended September 30, 2008. JDA Software Group, Inc. is a supply chain solutions provider. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]