Manhattan Associates Up on Strong Results

Manhattan Associates ( TK) reported second-quarter earnings Wednesday in line with analyst expectations on stronger-than-expected sales.

In after-hours trading, shares were recently up 99 cents, or 4.1%, to $25.42. In regular trading Wednesday, shares of Manhattan fell 15 cents, or 0.6%, to $24.43.

Under generally accepted accounting principles, Atlanta-based Manhattan Associates reported net income of $6.6 million, or 21 cents a share, in the second quarter. That was up from net income of $5.8 million, or 19 cents a share, in the same period a year earlier.

Excluding charges, Manhattan Associates, which makes supply-chain software, said it earned pro forma net income of $7.2 million, or 23 cents a share, compared with pro forma net income of $6.4 million, or 21 cents a share, a year earlier.

Revenue rose 9.8% from a year ago to $56 million and 21.5% from the previous quarter. Software and hosting fees -- a key measure of new software business albeit less than a quarter of Manhattan's sales -- totaled $13.8 million, up 21.1% from the same period a year earlier.

Wall Street analysts expected Manhattan to earn pro forma net income of 23 cents a share on $53.7 million in revenue in the second quarter, according to Thomson First Call.

Manhattan Associates expects third-quarter pro forma earnings to range from 21 cents to 26 cents a share and GAAP earnings to range from 19 cents to 24 cents a share. The company did not offer revenue guidance. The company's earnings guidance straddles the consensus estimate of 24 cents a share for the third quarter; analysts also are expecting revenue of $54.3 million in the third quarter.

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