Manhattan Associates 3Q Rev $50.2M
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Manhattan Associates 3Q Rev $50.2M

By siliconindia staff writer   |   Wednesday, 29 October 2003, 08:00 Hrs
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ATLANTA: Manhattan Associates Inc. missed third-quarter earnings expectations by two cents a share, although revenue increased 17%.

In a press release Monday, the company, which provides software for managing supply chains, posted net income of $4.99 million, or 16 cents a share, on revenue of $9.64 million.

Net profits were down more than 16% from the year earlier's $5.97 million, or 29 cents a share, on revenue of $42.86 million.

Income excluding items, however, was $6.1 million, or 20 cents a share, two cents shy of the Thomson First Call (News - Websites) consensus estimate of 22 cents, excluding items. In the third quarter a year ago, Manhattan Associates earned $6.3 million, or 21 cents a share.

The company expects fourth-quarter net earnings of 19 cents to 25 cents a share, compared with 23 cents a year ago. Excluding items, it expects earnings of 21 cents to 27 cents a share, bracketing the First Call estimate of 25 cents a share.

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