Manhattan Associates, Inc. (MANH) has reported 13.45 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $29.92 million, or $0.42 a share in the quarter, compared with $26.37 million, or $0.36 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $32.75 million, or $0.46 a share compared with $28.66 million or $0.39 a share, a year ago. Revenue during the quarter grew 4.35 percent to $147.59 million from $141.44 million in the previous year period. Gross margin for the quarter expanded 66 basis points over the previous year period to 66.01 percent. Total expenses were 69.27 percent of quarterly revenues, down from 72.05 percent for the same period last year. This has led to an improvement of 278 basis points in operating margin to 30.73 percent.
Operating income for the quarter was $45.36 million, compared with $39.53 million in the previous year period.
However, the adjusted operating income for the quarter stood at $49.67 million compared to $43.08 million in the prior year period. At the same time, adjusted operating margin improved 320 basis points in the quarter to 33.66 percent from 30.46 percent in the last year period.
"We posted solid fourth quarter and full year financial results marking our 5th consecutive year of record revenue and earnings per share performance. As important, we are very pleased with our strong Q4 and 2nd half license momentum exiting 2016. Demand for our omni-channel, store and distribution management solutions continues to be solid and our associates continue to execute very well serving our customers," said Eddie Capel, Manhattan Associates president and chief executive officer.
Manhattan Associates, Inc. expects revenue to be in the range of $622 million to $632 million for financial year 2017. For financial year 2017, the company projects diluted earnings per share to be in the range of $1.74 to $1.78. For financial year 2017, the company projects diluted earnings per share to be in the range of $1.89 to $1.93 on adjusted basis.
Operating cash flow improvesManhattan Associates, Inc. has generated cash of $139.35 million from operating activities during the year, up 15.97 percent or $19.19 million, when compared with the last year. Cash flow from investing activities was $3.36 million from investing activities during the year as against cash outgo of $13.54 million in the last year.
The company has spent $162.70 million cash to carry out financing activities during the year as against cash outgo of $102.27 million in the last year period.
Cash and cash equivalents stood at $95.62 million as on Dec. 31, 2016, down 19.25 percent or $22.80 million from $118.42 million on Dec. 31, 2015.
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