Manhattan Associates 4Q earnings rise threefold
(AP) — Manhattan Associates Inc., which provides software and services that help companies manage inventory and supplies, Tuesday said its fourth-quarter earnings tripled from the year before, despite a drop in revenue.
Helped by cost-cutting, the Atlanta-based company earned $5.87 million, or 26 cents per share, compared to $1.98 million, or 8 cents per share, in the fourth quarter of 2008.
Revenue fell 18 percent to $62.1 million. Software license revenues were up slightly, but service revenue fell sharply.
Excluding stock option expenses and the amortization of a purchase, Manhattan Associates said it earned 31 cents per share. Analysts polled by Thomson Reuters had expected earnings excluding items of 27 cents per share, on $61.6 million in revenue.
The company's shares were unchanged at $21.64 in afterhours trading.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
