JDA Software Group swings to loss due to payment related to repurchase of preferred stock

Monday, October 19, 2009

JDA Software swings to loss on $8.6M payment

SCOTTSDALE, Ariz. — JDA Software Group Inc. reported a third-quarter loss on Monday, pushed into the red by an $8.6 million payment related to the repurchase of preferred stock.

The company, which makes software for retailers to manage their inventories, said it lost $2.3 million, or 7 cents per share, in the quarter ended Sept. 30. The company earned $8.2 million, or 23 cents per share, in the same quarter last year.

Excluding the payment related to the stock repurchase, along with other charges, the company said it earned 40 cents per share. Revenue fell 2.6 percent to $95.9 million.

Analysts surveyed by Thomson Reuters expected a profit of 36 cents per share on $92.6 million in sales, on average. Analyst estimates typically exclude one-time items.

The company reported a mixed bag from its separate business segments. Sales from its software license, maintenance service and product segments declined. Consulting services, reimbursed expenses and service sales rose.

JDA said it closed a total of 57 new software deals during third quarter, including one contract exceeding $1 million.

Shares of JDA Software fell 59 cents, or 2.6 percent, to $22.50 in after-hours trading Monday. The stock closed at $23.09 after gaining 7 cents in the regular session.

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