J.D. Edwards Reports Fourth Quarter Results

Total revenue for the fourth quarter of fiscal 2002 was $247 million. License fee revenue grew to $74 million in the quarter ended October 31, 2002, a 35 percent increase over license fee revenue of $55 million in the third quarter of fiscal 2002. Services revenue was $173 million. Net income grew to $16 million, or 13 cents per diluted share, compared to $10 million, or $0.08 per diluted share, in the third quarter of fiscal 2002. For the fiscal year ended October 31, 2002, total revenue was $904 million. Net income for fiscal 2002 was $38 million, or 31 cents per diluted share, compared to $20 million, or 18 cents per diluted share, in fiscal 2001. "There are three metrics that best illustrate our progress. First is our sequential license fee growth of 35 percent for the fourth quarter. Second is our pro-forma earning- per-share growth of over 70 percent for the year. And third is the $140 million in cash flow we generated from operations over the course of the year," Bob Dutkowsky, president and CEO, said in a statement. "Software growth, earnings growth, and cash generation are measures of a healthy, well-run business. Our fourth-quarter and fiscal 2002 results demonstrate that our strategies are sound, our management team is solid, and our global execution continues to improve."