Manhattan Associates reports record 2Q results
by MDJ staff
July 29, 2014 08:17 PM | 1614 views | 0 0 comments | 5 5 recommendations | email to a friend | print
Cumberland-based Manhattan Associates Inc. reported record non-GAAP adjusted diluted earnings per share for the second quarter ending June 30, 2014 of 29 cents compared to 24 cents in 2Q 2013, on license revenue of $18 million and record total revenue of $122.5 million. GAAP diluted earnings per share for 2Q 2014 was 27 cents compared to 22 cents in 2Q 2013.

“We’re very pleased with our performance in 2Q and the first half of 2014. We executed well serving our customers and delivering strong financial performance,” said Eddie Capel, Manhattan Associates president and CEO. “With strong demand for our omni-channel and distribution management solutions, we will continue to innovate and strive to enhance our market position so we can deliver solid financial results for the balance of 2014 and beyond.”

Consolidated total revenue was $122.5 million in 2Q 2014, compared to $102.5 million in 2Q 2013. License revenue was $18 million in 2Q 2014, compared to $16.1 million in 2Q 2013.

Adjusted operating income, a non-GAAP measure, was $34.9 million in 2Q 2014, compared to $28.3 million in 2Q 2013. GAAP operating income was $32.5 million in 2Q 2014, compared to $26.2 million in 2Q 2013.

Cash flow from operations was $1.9 million in 2Q 2014, compared to $13.6 million in 2Q 2013. Days Sales Outstanding was 64 days at June 30, compared to 53 days at March 31. Cash and investments at June 30 was $101.4 million, compared to $125.9 million at March 31.

During the three months ending June 30, the company repurchased 782,489 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $25.1 million. In July 2014, the Board of Directors approved raising the company’s share repurchase authority to an aggregate of $50 million of the company’s outstanding common stock.

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