Updated from 10:43 a.m. EDT
JDA Software Group
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
Petco Animal Supplies