JDA Software Group Inc. (JDAS, Financial) filed Quarterly Report for the period ended 2011-03-31.
Jda Software Group Inc. has a market cap of $1.39 billion; its shares were traded at around $32.91 with a P/E ratio of 19.7 and P/S ratio of 2.2. Jda Software Group Inc. had an annual average earning growth of 20.9% over the past 10 years.
General and administrative expenses were greater in the three months ended March 31, 2011 compared to the same period in 2010 primarily due to an increase of approximately $2.8 million of litigation expenses and $2.0 million of severance costs incurred.
As of March 31, 2011, we had cash, cash equivalents, and restricted cash of approximately $260.5 million. Additionally, in March 2011, we secured a $100.0 million line of credit that we have not drawn upon to date. See Note 6 to our condensed consolidated financial statements for further information. We anticipate that our existing capital resources, along with the cash to be generated from operations and our existing line of credit will enable us to maintain currently planned operations, acquisitions, debt repayments and capital expenditures for the foreseeable future. However, this expectation is based on our current operating and financing plans, which are subject to change, and therefore we could require additional funding. Factors that may cause us to require additional funding may include, but are not limited to future acquisitions, litigation matters and other factors.
Operating activities provided cash of $58.7 million and $12.2 million during the three months ended March 31, 2011 and 2010, respectively. The increase in cash flow is due primarily to a $49.8 million increase in the current period net income of which $37.5 million was due to a favorable litigation settlement (see Note 7, to our condensed consolidated financial statements). Changes in working capital utilized approximately $11.1 million of cash in the three months ended March 31, 2011 and provided approximately $2.2 million of cash in the three months ended March 31, 2010, due primarily to the timing and payment of accounts receivable and accounts payable as well as decreases in deferred revenue. Net accounts receivable were $138.7 million, or 76 days sales outstanding (DSO), at March 31, 2011 compared to $102.1 million, or 54 days DSO, at December 31, 2010. DSO results can fluctuate significantly on a quarterly basis due to a number of factors including the timing of annual maintenance renewals, seasonality, the percentage of total revenues that comes from software license sales which may have installment payment terms, shifts in customer buying patterns, the timing of customer payments, lengthened contractual payment terms in response to competitive pressures, the underlying mix of products and services, and the geographic concentration of revenues.
Investing activities used $3.4 million and provided $61.4 million of cash during the three months ended March 31, 2011 and 2010, respectively. Investing activities in 2011 primarily related to the purchase of property and equipment while 2010 included activities associated with the acquisition of i2.
Financing activities used $1.9 million and provided $7.5 million of cash during the three months ended March 31, 2011 and 2010, respectively. Financing activities include proceeds from the issuance of common stock under our stock plans and the repurchase of shares tendered by employees for payment of applicable statutory withholding taxes on the issuance of restricted stock. Additionally, in 2011, we used $1.7 million in cash associated with our debt issuance costs on our new $100.0 million line of credit.
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Jda Software Group Inc. has a market cap of $1.39 billion; its shares were traded at around $32.91 with a P/E ratio of 19.7 and P/S ratio of 2.2. Jda Software Group Inc. had an annual average earning growth of 20.9% over the past 10 years.
Highlight of Business Operations:
The increase in software and subscription revenues is primarily due to the recognition of higher dollar contracts for the three months ended March 31, 2011 compared to the three months ended March 31, 2010. There were six large transactions (greater than $1.0 million), in the three months ended March 31, 2011 as compared to eight large transactions in same period of 2010. Our trailing twelve month average selling price increased to approximately $0.7 million at March 31, 2011 as compared to $0.6 million for the same period ending March 31, 2010.General and administrative expenses were greater in the three months ended March 31, 2011 compared to the same period in 2010 primarily due to an increase of approximately $2.8 million of litigation expenses and $2.0 million of severance costs incurred.
As of March 31, 2011, we had cash, cash equivalents, and restricted cash of approximately $260.5 million. Additionally, in March 2011, we secured a $100.0 million line of credit that we have not drawn upon to date. See Note 6 to our condensed consolidated financial statements for further information. We anticipate that our existing capital resources, along with the cash to be generated from operations and our existing line of credit will enable us to maintain currently planned operations, acquisitions, debt repayments and capital expenditures for the foreseeable future. However, this expectation is based on our current operating and financing plans, which are subject to change, and therefore we could require additional funding. Factors that may cause us to require additional funding may include, but are not limited to future acquisitions, litigation matters and other factors.
Operating activities provided cash of $58.7 million and $12.2 million during the three months ended March 31, 2011 and 2010, respectively. The increase in cash flow is due primarily to a $49.8 million increase in the current period net income of which $37.5 million was due to a favorable litigation settlement (see Note 7, to our condensed consolidated financial statements). Changes in working capital utilized approximately $11.1 million of cash in the three months ended March 31, 2011 and provided approximately $2.2 million of cash in the three months ended March 31, 2010, due primarily to the timing and payment of accounts receivable and accounts payable as well as decreases in deferred revenue. Net accounts receivable were $138.7 million, or 76 days sales outstanding (DSO), at March 31, 2011 compared to $102.1 million, or 54 days DSO, at December 31, 2010. DSO results can fluctuate significantly on a quarterly basis due to a number of factors including the timing of annual maintenance renewals, seasonality, the percentage of total revenues that comes from software license sales which may have installment payment terms, shifts in customer buying patterns, the timing of customer payments, lengthened contractual payment terms in response to competitive pressures, the underlying mix of products and services, and the geographic concentration of revenues.
Investing activities used $3.4 million and provided $61.4 million of cash during the three months ended March 31, 2011 and 2010, respectively. Investing activities in 2011 primarily related to the purchase of property and equipment while 2010 included activities associated with the acquisition of i2.
Financing activities used $1.9 million and provided $7.5 million of cash during the three months ended March 31, 2011 and 2010, respectively. Financing activities include proceeds from the issuance of common stock under our stock plans and the repurchase of shares tendered by employees for payment of applicable statutory withholding taxes on the issuance of restricted stock. Additionally, in 2011, we used $1.7 million in cash associated with our debt issuance costs on our new $100.0 million line of credit.
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