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Supply chain software developer Manhattan Associates ( MANH ) beat Wall Street’s first-quarter earnings and revenues estimates, then raised its full-year 2016 guidance after the market close Tuesday. Investors responded by bidding up the stock more than 7% after hours. Manhattan stock rose a fraction Tuesday and just fell short of a three-month high. CEO Eddie Capel said in the company’s earnings release, “(Manhattan’s) investment in multichannel, retail store and distribution management solutions continue to drive growth and extend our market leadership position in a subdued world economy.” Manhattan said that its Q1 non-GAAP earnings rose 23.5% to 42 cents per share on revenue of $149.9 million, up 12%. Analysts polled by Thomson Reuters had expected 39 cents and $145.5 million. For the year, Manhattan raised its adjusted EPS guidance to a range of $1.73 to $1.76, up 14% to 16%, from an earlier 11%-13% range. And it raised its revenue range to $615 million to $620 million, up 10.5% to 11.5% from an earlier 9.5%-10.5% outlook. Analysts had modeled $1.71 EPS minus items , up 12.5%, on revenue up 10% to $612 million. Scalper1 News
Scalper1 News