This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Manhattan Associates Reports Record First Quarter 2013 Earnings

ATLANTA, April 23, 2013 (GLOBE NEWSWIRE) -- Leading supply chain optimization provider Manhattan Associates, Inc. (Nasdaq:MANH) today reported record first quarter 2013 non-GAAP adjusted diluted earnings per share of $0.74 compared to $0.60 in the first quarter of 2012, on license revenue of $14.2 million and record first quarter total revenue of $96.6 million. GAAP diluted earnings per share for the first quarter was a record $0.68 compared to $0.55 in the prior year first quarter.

Manhattan Associates President and CEO Eddie Capel commented, "We're very pleased with our first quarter performance. We posted solid financial results and our competitive win rates remain strong.  While it remains somewhat difficult to predict the effect of the sluggish global economy, we are well positioned for a solid year in 2013 and beyond."

FIRST QUARTER 2013 FINANCIAL SUMMARY:

  • Adjusted diluted earnings per share, a non-GAAP measure, was $0.74 in the first quarter of 2013, compared to $0.60 in the first quarter of 2012.
  • GAAP diluted earnings per share was $0.68 in the first quarter of 2013, compared to $0.55 in the first quarter of 2012. 
  • Consolidated total revenue was $96.6 million in the first quarter of 2013, compared to $91.5 million in the first quarter of 2012. License revenue was $14.2 million in the first quarter of 2013, compared to $15.6 million in the first quarter of 2012.
  • Adjusted operating income, a non-GAAP measure, was $21.6 million in the first quarter of 2013, compared to $19.6 million in the first quarter of 2012. 
  • GAAP operating income was $19.7 million in the first quarter of 2013, compared to $17.9 million in the first quarter of 2012. 
  • Cash flow from operations was $20.1 million in the first quarter of 2013, compared to $13.1 million in the first quarter of 2012. Days Sales Outstanding was 56 days at March 31, 2013, compared to 60 days at December 31, 2012.
  • Cash and investments on-hand were $108.5 million at March 31, 2013, compared to $103.0 million at December 31, 2012.
  • During the three months ended March 31, 2013, the Company repurchased 225,632 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $15.9 million. In April 2013, the Board of Directors approved raising the Company's remaining share repurchase authority to an aggregate of $50.0 million of the Company's outstanding common stock.

SALES ACHIEVEMENTS:

  • Three contracts of $1.0 million or more in recognized license revenue during the first quarter of 2013.
  • Completing software license wins with new customers such as: eStore Logistics, Fulfillment Services Solution, Innnes, P T Chandra Supermarkets, Redmart, Target Australia and Zhejiang Yongsheng Pharmaceutical Logistics.
  • Expanding relationships with existing customers such as: AcuSport, Assuramed, ATB Market, Benjamin Moore & Co, Cabela's, Carolina Logistics Services, Cotton On Group Services, Devanlay, DOME Corporation, El Corte Ingles, Federal Emergency Management Agency (FEMA), Guthy-Renker Fulfillment Services, Hayneedle, Ingram Industries, Innotrac Corporation, Michael Kors, Niagara Bottling, Ozburn-Hessey Logistics, Performance Team Freight Systems, Primark Stores, ProSilver Star, Republic National Distributing Company, Retail Brand Alliance, Richline Group, Speed Transportation, The Container Store, The Hillman Group and Wolverine Worldwide.

2013 GUIDANCE

Manhattan Associates provides the following revenue and diluted earnings per share guidance for the full year 2013:

    Guidance Range - 2013 Full Year
  ($'s in millions, except EPS) $ Range % Growth Range
           
  Total revenue - current guidance $410 $415 9% 10%
           
Diluted earnings per share (EPS):        
  Adjusted EPS - current guidance $3.21 $3.27 14% 16%
  GAAP EPS - current guidance $2.91 $2.97 14% 16%
           
  Adjusted EPS - previous guidance $3.15 $3.21 12% 14%
  GAAP EPS - previous guidance $2.85 $2.91 11% 14%

Manhattan Associates currently intends to publish, in each quarterly earnings release, certain expectations with respect to future financial performance.  Those statements, including the guidance provided above, are forward-looking.  Actual results may differ materially, especially in the current uncertain economic environment. Those statements, including the guidance provided above, do not reflect the potential impact of mergers, acquisitions or other business combinations that may be completed after the date of the release.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs