JDA Software's Results Expected to Beat Estimates

The stock was up 23% in late morning trading, after an increase of 102% in the last year.
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Updated from 10:43 a.m. EDT

Shares of

JDA Software Group

(JDAS)

rose 23% in Friday late morning trading on news that the company's first-quarter results will exceed Wall Street's expectations due to better-than-expected revenue from software licensing.

The stock was up 3 3/8 to 18, after an increase of 102% in the last year. (JDA closed up 2 13/16, or 19%, at 17 7/16).

The company, based in Scottsdale, Ariz., did not quantify the amount of the expected earnings per share gain, but the consensus estimate of analysts polled by

First Call/Thomson Financial

is 3 cents.

However, JDA did indicate that their software revenue will come in at about $15 million, more than double the $7.4 million booked by the company in the same period last year.

JDA will report its results after the market close on April 20.

JDA creates management information systems -- for both corporate and in-store use -- for more than 740 retailers worldwide such as

Wal-Mart Stores

(WMT) - Get Report

,

Best Buy

(BBY) - Get Report

,

Bombay Co.

(BBA)

and

Petco Animal Supplies

(PETC)

.