JDA’s 4Q revenue up, software down

   JDA Software reported a record fourth quarter revenue of $174.2 million, a percent increase from its $168.8 million reported in Q4, 2010.
   This beat out analyst views of $172.8 million and was above the company’s guidance revised on Jan. 12 with a top revenue of $173 million.
   JDA said its earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 7 percent to a record $51.8 million, compared to $48.5 million at the end of fourth quarter 2010.
   Software and subscription revenue dropped to $37.6 million for the quarter, down from $42 million in fourth quarter 2010. JDA said the decrease was primarily due to a 31 percent decline in the Americas. The company did see some offset through a 61 percent increase in sales in the Europe-Middle East-Africa region and a 19 percent increase in Asia-Pacific.
   JDA said it closed eight deals worth more than $1 million in its last quarter, down from 10 such deals in the fourth quarter of 2010. However, its average sales price rose from $601,000 for the year ending in 2010 to $821,000 for the year ending in 2011.
   The company noted that its cash and cash equivalents, including restricted cash, increased $88.4 million to $294.9 million by Dec. 31, 2011, up from $206.5 million at Dec. 31, 2010.
   JDA also announced some results for the full-year ending Dec. 31, 2011:

• Revenue for the year ended Dec. 31, 2011 increased 9 percent to $671.8 million from $617.2 million for the year before.
• Overall revenue increase was driven by an 8 percent increase in software and subscription revenue, an 8 percent increase in maintenance revenue, and a 10 percent increase in services revenue.
• Adjusted EBITDA increased 12 percent to $179.6.
• Adjusted non-GAAP earnings per share rose 13 percent to $2.20.
• Cash flow from operations increased $110.8 million, up from $65.2 million in 2010. Adjusting for the $16.5 million net cash outflow from litigation settlements in 2011, cash flow from operations was $127.3 million. — Geoff Whiting