Manhattan Associates Q3 Profit Down, Lifts FY Outlook; Shares Up 7%

(RTTNews) - Manhattan Associates Inc. (MANH) Tuesday reported third-quarter net income of $27.1 million or $0.42 per share, down from $28.5 million or $0.43 per share last year.

Adjusted earnings rose to $0.51 per share from $0.49 per share last year.

Total revenues for the third quarter was $162.3 million, up from $142.4 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.36 per share and revenues of $151.64 million for the quarter.

License revenues were $15.5 million, up from $11.5 million last year. Cloud subscription revenue rose to $14.2 million from $6.5 million a year ago, while service revenue increased to $91.6 million from $84.1 million last year.

Looking forward to full year 2019, Manhattan Associates now expects adjusted earnings of $1.63 to $1.65 per share and revenues of $610 million to $614 million. Analysts currently estimate earnings of $1.48 per share and revenues of $600.92 million.

Previously, Manhattan expected adjusted earnings of $1.46 to $1.50 per share and revenues of $598 million to $604 million.

MANH closed Tuesday's trading at $74.60, down $1.91 or 2.50%, on the Nasdaq. The stock, however, gained $5.30 or 7.10% in the after-hours trading.