That works. Here is a supplemental question for you:

The function works for dates that have double digit months. Single digit
months (January - September) don't have a "0" in front of the month making
the formula return the wrong date.

Example:

4/17/07 is in the spreadsheet as "41707". Due to the cell format, a "0"
is
automatically added. Using =DATE(RIGHT(A1,2),LEFT(A1,2),MID(A1,3,2)) in a
date formatted cell gives me "07/09/10". If I add a "0" in front of
"41707",
it gives me the correct result but since the spreadsheet has about 5,000
rows, I can't readily devote that much time.

This should work for you...

=DATE(YEAR("January 1, " &
RIGHT(A1,2)),LEFT(A1,LEN(A1)-4),MID(A1,LEN(A1)-3,2))

Rick