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While announcing fourth-quarter and year-end numbers yesterday, JD Edwards said licence fee revenue for the quarter - a good indicator of a company's health - was $74m (£47m), up from $55m the previous quarter.
Overall revenue for the quarter was $247m, with net earnings of $37m - up from $18m in the previous quarter. Overall, JD Edwards reported a total revenue of $904m for the year, with net income of $46m. The company reported a $180m loss a year ago.
The company's strategy of focusing on midmarket verticals is paying dividends, according to Les Wyatt, senior vice-president of product marketing and management. "We felt good about our continued growth in revenue in licence and services in a tough period.
"We're winning against the key competitors in the market, and getting a larger share of total transactions."
With a cash flow of $100m-plus, JD Edwards is in a strong position to either invest or acquire other companies.
Among the highlights of the past year included the signing of mammoth Wal-Mart Stores as a customer, and a deal with IBM to standardise applications around its WebSphere portal and middleware products.
JD Edwards also released the latest version of its eXtended Process Integration middleware, which enables companies to link with suppliers, customers and partners over heterogeneous systems.