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Manhattan Associates' CEO Discusses Q1 2012 Results - Earnings Call Transcript

In addition, our comments will cover certain non-GAAP financial measures. These measures are not in accordance with, or an alternative to GAAP, and may be different from non-GAAP measures used by other companies. We believe that this presentation of certain non-GAAP measures facilitates investors' understanding of our historical operating trends with useful insight into our profitability, exclusive of unusual adjustments. Our Form 8-K filed today with the SEC and available from our website, manh.com, contains important disclosures about our use of non-GAAP measures. In addition, our earnings release filed with the Form 8-K reconciles our non-GAAP measures to the most directly comparable GAAP measures.

Now I'll turn the call over to Pete.

Peter F. Sinisgalli

Thanks, Dennis. I'll start the call with an overview of our performance in the first quarter. Dennis will follow with details of our financial results. I'll return to cover operating activities for the quarter and then we'll be happy to answer your questions.

I'm very pleased with our first quarter results. All of our financial and non-financial metrics were strong for the quarter. License revenue doubled off a weak Q1 of 2011. Total revenue was a new record for us, both for the first quarter and for any quarter in our history and was up 28% over last year. Adjusted EPS for the first quarter was $0.60, up 46% versus the prior year. We closed 5 $1 million plus license deals in the quarter, 3 with new customers and 2 with existing customers. One of the large deals was in Europe and 4 were in the United States. The Europe deal and 2 of the U.S. deals were led by our Warehouse Management solution. It was nice to see this quarter that the other 2 large U.S. deals were led by our transportation solution. In one of the 2 transportation deals, we beat Oracle head-to-head for a new customer. And in the other, we'll be replacing JDA's Manugistics product at an existing Manhattan customer.

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