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JDA Software announces Q4 2009 and full year results |
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JDA Software, which makes demand change management software, reported record total revenues of $107.1 million and adjusted EBITDA of $27.3 million in fourth quarter 2009, compared to total revenues of $106.2 million and adjusted EBITDA of $28 million in fourth quarter 2008. It reported software revenues of $28.6 million for fourth quarter 2009, compared to $34.3 million in fourth quarter 2008, which included an $11.5 million software deal as reported last year. GAAP income applicable to common shareholders for fourth quarter 2009 was $8.5 million or $0.24 per share, compared to a GAAP net loss of $13.5 million or $0.44 per share in fourth quarter 2008. “During fourth quarter 2009 we achieved record results with 10 software deals in excess of $1.0 million, the best quarter of the year for our Americas and EMEA regions and the highest quarterly revenues in our history,” said JDA CEO Hamish Brewer. “While several competitors stumbled last year, we maintained a strong financial position and enjoyed great momentum with companies of all sizes choosing our proven supply chain solutions. With the industry experiencing a solid holiday period, we look forward to carrying that momentum into 2010.” DSO was 58 days at the end of fourth quarter 2009, compared to 67 days at the end of fourth quarter 2008. The quarter also saw the company issue $275 million of 5-year 8 percent senior notes, the net proceeds of which were placed in escrow. JDA said these would be used to fund a portion of the cash merger consideration of the pending acquisition of i2, which is on track to be finalize the i2 acquisition on January 28, 2010, which is the second attempt at the acquisition for JDA. An earlier attempt in 2008 had been abandoned. Cash and cash equivalents were $76 million at December 31, 2009, after transferring $17.1 million to restricted cash in connection with the pending acquisition of i2, compared to $32.7 million at December 31, 2008. For the year 2009, JDA reported total revenues of $385.8 million and software revenues of $88.8 million for the 12 months ended December 31, 2009, compared to total revenues of $390.3 million and software revenues of $92.9 million for the 12 months ended December 31, 2008. Adjusted EBITDA was $96.8 million for the year ended December 31, 2009, compared to $97.4 million for the year ended December 31, 2008. GAAP income applicable to common shareholders for the year was $17.7 million or $0.50 per share, as compared to GAAP income applicable to common shareholders of $3.1 million or $0.09 per share in the 12 months ended December 31, 2008. Cash flow from operations in the 12 months ended December 31, 2009 was $96.5 million, compared to adjusted non-GAAP cash flow from operations of $73.9 million in the 12 months ended December 31, 2008, which excludes $26.8 million of costs related to the abandoned i2 acquisition in fourth quarter 2008. |
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