Business
Manhattan Associates Reports Record Third Quarter 2019 Revenue
Company raises full-year Revenue and EPS guidance ATLANTA, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Leading Supply Chain and Omnichannel Commerce Solutions provider
About this update from Manhattan Associates, Inc.
[{"type":"text","content":"Company raises full-year Revenue and EPS guidance\nATLANTA, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported record total revenue of $162.3 million for the third quarter ended September 30, 2019, applying the new revenue recognition standard retrospectively. GAAP diluted earnings per share for Q3 2019 was $0.42 compared to $0.43 in Q3 2018. Non-GAAP adjusted diluted earnings per share for Q3 2019 was $0.51 compared to $0.49 in Q3 2018.\n “Due to robust demand across all of our core solutions, Manhattan Associates posted strong organic growth in the quarter, resulting in an all-time record revenue quarter. Cloud, License and Services revenue momentum exceeded our expectations driving exceptional operating results in our ongoing Cloud transition,” said Manhattan Associates president and CEO Eddie Capel. “Our suite of Manhattan Active® omnichannel, inventory and supply chain solutions continues to drive solid pipeline and revenue momentum positioning us well for the balance of 2019 and beyond. Based on our outlook for the remainder of the year, we are raising our 2019 full-year revenue and earnings guidance.” “While appropriately cautious regarding global geopolitical and economic volatility, we continue to be optimistic on the market opportunity ahead, with supply chain complexity and retail evolution in our target markets bringing continued need for our solutions. Positive customer feedback and strong competitive win rates, combined with continued product advancements, are enabling our clients to Push Possible® with their commerce supply chains,” added Mr. Capel. THIRD QUARTER 2019 FINANCIAL SUMMARY: Consolidated total revenue was $162.3 million in Q3 2019, compared to $142.4 million in Q3 2018. License revenue was $15.5 million in Q3 2019, compared to $11.5 million in Q3 2018. Cloud subscription revenue was $14.2 million in Q3 2019, compared to $6.5 million in Q3 2018. Service revenue was $91.6 million in Q3 2019, compared to $84.1 million in Q3 2018.GAAP diluted earnings per share was $0.42 in Q3 2019 compared to $0.43 in Q3 2018.Adjusted diluted earnings per share, a non-GAAP measure, was $0.51 in Q3 2019, compared to $0.49 in Q3 2018.GAAP operating income was $35.0 million in Q3 2019, compared to $36.1 million in Q3 2018....