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Manhattan Associates Reports Record Third Quarter 2015 Performance

The following excerpt is from the company's SEC filing.

Company raises full-year EPS guidance

Leading Supply Chain Commerce Solutions provider Manhattan Associates, Inc. (NASDAQ: MANH) today reported record non-GAAP adjusted diluted earnings per share for the third quarter ended September 30, 2015 of

$0.42 compared to $0.32 in Q3 2014,

on license revenue of $19.1 million and record total revenue of $142.3 million. GAAP diluted earnings per share for Q3 2015 was a record

$0.38

$0.30

in Q3 2014.

“We’re very pleased with our third quarter performance and year-to-date 2015 results. Ou r associates continue to execute well serving our customers and delivering strong financial performance,” said Eddie Capel, Manhattan Associates president and CEO.

Demand for our omni-channel, store and distribution management solutions continues to be strong and we continue to lead with product innovation to enhance our market leadership position.

Our outlook for the balance of 2015 and the future is quite positive.”

THIRD QUARTER 2015 FINANCIAL SUMMARY:

Adjusted diluted earnings per share, a non-GAAP measure, was $0.42

in Q3 2015, compared to $0.32

GAAP diluted earnings per share was $0.38

in Q3 2015, compared to $0.30

Consolidated total revenue was $142.3 million in Q3 2015, compared to $125.6 million in Q3 2014. License revenue was $19.1 million in Q3 2015, compared to $16.9

Adjusted operating income, a non-GAAP measure, was $49.1

red to $37.9 million in Q3 2014.

GAAP operating income

was $43.7

million in Q3 2015, compared to $35.5 million in Q3 2014.

Cash flow from operations was $41.3 million in Q3 2015, compared to $32.7 million in Q3 2014. Days Sales Outstanding was 60 days at September 30, 2015, compared to 54 days at June 30, 2015.

Cash and investments was $119.1 million at September 30, 2015, compared to $108.4 million at June 30, 2015.

During the three months ended September 30, 2015, the Company repurchased 399,315 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $25.0 million. In October 2015, the Board of Directors approved raising the Company's share repurchase authority to an aggregate of $50.0 million of the Company’s outstanding common stock.

NINE MONTH 2015 FINANCIAL SUMMARY:

Adjusted diluted earnings per share, a non-GAAP measure, was $1.14 for the nine months ended September 30, 2015, compared to $0.87 for the nine months ended September 30, 2014.

GAAP diluted earnings per share for the nine months ended September 30, 2015 was $1.04, compared to $0.81 for the nine months ended September 30, 2014.

Consolidated revenue for the nine months ended September 30, 2015 was $414.9 million, compared to $361.7 million for the nine months ended September 30, 2014. License revenue was $58.2 million for the nine months ended September 30, 2015, compared to $52.0 million for the nine months ended September 30, 2014.

$133.3

$105.1

GAAP operating income was $121.9 million for the nine months ended September 30, 2015, compared to $98.1 million for the nine months ended September 30, 2014.

Cash flow from operations was $84.0 million in the nine months ended September 30, 2015, compared to $53.7 million in the nine months ended September 30, 2014.

During the nine months ended September 30, 2015, the Company repurchased 1,381,375 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $76.5 million.

SALES ACHIEVEMENTS:

Recognized license revenue of $1.0 million or more on four new contracts during Q3 2015.

Completed software license wins with new customers such as: Citizen Watch, FreshDirect, ID Logistics, JM Family Enterprises, L.L.Bean, Lojas Riachuelo, Parlogis, Santens Service.

Expanded relationships with existing customers such as: Alliance Healthcare, Banaja Holdings, Beger, Belk, Brooks Brothers, Coach, Con-Way Truckload, Damco Distribution Services, Inc., DCG Fulfillment, Dentsply International, Eram, Harris Teeter, Hastings Deering, Innes, Integracolor, Jasco, MatahariMall.com, MXD Group, My Chemist, New Balance Athletics, Office Depot Mexico, Ozburn-Hessey Logistics, Petrovich, PurCotton, Richline Group, Rochester Drug Cooperative, Servicios Empresariales Zimag, Simplehuman, Southern Wine & Spirits of America, Speed Global Services, Sportsman’s Guide (A Northern Tool and Equipment Company), Stella and Dot, Team Hardinger Transportation and Warehousing, The Hillman Group, Tuesday Morning, United Natural Foods, Vitamin Shoppe, Wineworks, Winning Appliances, Woodcraft Supply.

2015 GUIDANCE

Manhattan Associates provides the following updated revenue and diluted earnings per share guidance for the full year 2015:

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. 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.

Manhattan Associates will make its earnings release and published expectations available on its website (www.manh.com). Beginning the close of business on December 15, 2015, Manhattan Associates will observe a “Quiet Period” during which Manhattan Associates and its representatives will not comment concerning previously published financial expectations. Prior to the start of the Quiet Period, the public can...


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