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JDA Software Group, Inc. (JDAS) announced its financial results on Monday for the third quarter ended September 30, 2009.
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. Adjusted non-GAAP earnings for third quarter 2009 were $0.40 per share, compared to $0.42 per share in third quarter 2008. This beat analysts' estimate for net income of $0.36 per share.
Hamish Brewer, President and CEO of JDA Software, commented in a conference call, "In contrast to the record-breaking results of Q2, our Q3 was another solid year for us and support the second half guidance that we set in July."
He continued, "As expected, software sales were softer than Q2 due to the timing of deals in our pipeline. Consulting services, on the other hand, delivered a strong performance in Q3. Maintenance renewals have also stabilized."
Mr. Brewer added, "The actions that we took earlier this year to gain tight control of costs has insured continued protection of our operating margin."
He concluded, "The pipeline for Q4 has a strong representation of large deals. Assuming these deals close as expected, we project that this will drive a strong sales performance in Q4. I am also very comfortable that we will meet or exceed our profitability guidance."
The Company reiterated its guidance for second half 2009, including projected software sales between $26 million to $30 million for fourth quarter 2009.
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