JDA Software

(JDAS)

said that third-quarter earnings were cut in half as the company experienced delays in a "significant" number of software license transactions.

The company said net income fell to $1.65 million, or 6 cents a share, from $3.37 million, or 11 cents a share.

Revenue dropped 13.3% to $50.3 million from $58 million.

Excluding various items, the Scottsdale, Ariz.-based company posted earnings in the latest quarter of 4 cents a share, in line with its

announcement earlier this month that it was lowering earnings guidance to 4 cents to 6 cents a share.

After the lowered guidance, the consensus analysts' estimate fell to 3 cents a share, giving the company a penny upside on Monday. Investors responded by taking the stock higher in recent after-hours trading by 15 cents, or 1.4%, to $11.20. In the regular session, shares closed up 7 cents, or 0.6%, to $11.05.