Business
Manhattan Associates Reports Second Quarter 2020 Results
Company raises full-year Revenue and EPS guidance ATLANTA, July 23, 2020 (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, July 23, 2020 (GLOBE NEWSWIRE) -- Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $135.6 million for the second quarter ended June 30, 2020. GAAP diluted earnings per share for Q2 2020 was $0.30 compared to $0.32 in Q2 2019. Non-GAAP adjusted diluted earnings per share for Q2 2020 was $0.40 compared to $0.42 in Q2 2019.\n “Manhattan Associates reported solid second quarter financial results,” said Manhattan Associates president and CEO Eddie Capel. “Our growing cloud business continues to outperform, with continued strength in both revenue and bookings. As a result, we are raising our full-year revenue and earnings guidance. Furthermore, while early, we are seeing strong interest in our recently released Manhattan Active® Warehouse Management solution, which should continue to provide momentum for our cloud business in the years to come.” “There is no doubt that near-term impacts to global economic activity continue to manifest themselves due to the COVID-19 pandemic,” Mr. Capel continued. “Specifically, we have seen sales cycles lengthen as customers and prospects simultaneously contend with the pandemic while evaluating our solutions. Additionally, we have seen delays in services-related project work, leading to a year-over-year decline in services revenue.” “However, we remain very confident in the long-term outlook for our business, driven by the continued need for innovative solutions within the supply chain and omnichannel commerce markets,” Mr. Capel concluded. “We will continue to position the company to capitalize on these evolving trends while driving long-term sustainable growth for all of our stakeholders globally.” SECOND QUARTER 2020 FINANCIAL SUMMARY: Consolidated total revenue was $135.6 million in Q2 2020, compared to $154.3 million in Q2 2019. o Cloud subscription revenue was $18.5 million in Q2 2020, compared to $9.0 million in Q2 2019. o License revenue was $5.7 million in Q2 2020, compared to $11.7 million in Q2 2019. o Service revenue was $71.8 million in Q2 2020, compared to $94.0 million in Q2 2019. GAAP diluted earnings per share was $0.30 in Q2 2020, compared to $0.32 in Q2 2019.Adjusted diluted earnings per share, a non-GAAP measure, was $0.40 in Q2 2020, compa...