Manhattan Associates, Inc. (MANH) has reported a 2.71 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $28.22 million, or $0.40 a share in the quarter, compared with $27.48 million, or $0.38 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $29.16 million, or $0.42 a share compared with $30.50 million or $0.42 a share, a year ago.
Revenue during the quarter dropped 4.25 percent to $143.49 million from $149.86 million in the previous year period. Gross margin for the quarter expanded 51 basis points over the previous year period to 63.77 percent. Total expenses were 70.92 percent of quarterly revenues, down from 71.24 percent for the same period last year. This has led to an improvement of 32 basis points in operating margin to 29.08 percent.
Operating income for the quarter was $41.72 million, compared with $43.10 million in the previous year period.
However, the adjusted operating income for the quarter stood at $46.30 million compared to $47.89 million in the prior year period. At the same time, adjusted operating margin improved 31 basis points in the quarter to 32.27 percent from 31.96 percent in the last year period.
"Our first quarter results reflect the balance between strong license fee performance and retail macro challenges. Q1 represents another record license quarter with solid pipeline activity in all three regions against a strong comparable. Our Professional Services business continues to experience headwinds muting solid financial performance across all other key metrics," said Eddie Capel, president and chief executive officer of Manhattan Associates.
For fiscal year 2017, Manhattan Associates, Inc. forecasts revenue to be in the range of $606 million to $620 million. The company expects diluted earnings per share to be in the range of $1.77 to $1.81. It expects diluted earnings per share to be in the range of $1.89 to $1.93 on adjusted basis.
Operating cash flow improves significantly
Manhattan Associates, Inc. has generated cash of $61.28 million from operating activities during the quarter, up 51.58 percent or $20.85 million, when compared with the last year period.
The company has spent $12.42 million cash to meet investing activities during the quarter as against cash outgo of $0.49 million in the last year period.
The company has spent $56.62 million cash to carry out financing activities during the quarter as against cash outgo of $52.75 million in the last year period.
Cash and cash equivalents stood at stood at $89.21 million as at Mar. 31, 2017.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
