Manugistics Posts Narrower Loss
Shares of Manugistics Group (MANU), a vendor of supply chain software, were rising slightly Thursday, after management reported that it had narrowed its net loss from a year ago.
For the quarter ended Nov. 30, 2002, the company reported an actual net loss, as measured under generally accepted accounting principles of $26 million, or 37 cents per basic and diluted share, compared to an actual net loss of $45 million, or 66 cents per basic and diluted share, for the same period in the prior year.
Including charges, Manugistics lost 18 cents per share, coming in at the low end of the range it gave in a preannouncement two weeks ago.
Total revenue for the quarter ended Nov. 30 fell to $62.4 million from $71 million a year ago. Software revenue decreased 36 percent to $14.1 million from $22.1 million for the same period in the prior year.Wall Street had expected the supply-chain software company to lose an adjusted 17 cents per share on $65.47 million in revenue. A release made before the company's conference call with analysts gave little reason to look for a significant upturn in business in sales the near term. However, cost-cutting "will allow us to post improved operating performance in coming quarters," said Greg Owens, Manugistics' chairman and chief executive officer. Shares rose slightly, closing up 6 cents, or 2.7%, at $2.28. Shares were higher by 5 cents in after-hours trading.
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