MANHATTAN ASSOCIATES REPORTS BOOST IN 1ST-QUARTER EARNINGS

MANHATTAN ASSOCIATES REPORTS BOOST IN 1ST-QUARTER EARNINGS

   Manhattan Associates Inc., the Atlanta-based supply-chain execution and collaborative commerce software provider, reported first-quarter net income of $5.1 million, up 71 percent over the year-earlier period.

   Software fees rose 56 percent to $7.8 million while service revenue rose 34 percent to $23.5 million. Total revenue reached $36.1 million, an increase of 27 percent.

   The company expects market conditions to improve over 2001 and anticipates year-end earnings of 69 cents to 85 cents per diluted share, and revenues in the $155-million to $173-million range. Second-quarter projections are net income of 16 to 20 cents per fully diluted share on revenue of $37 million to $41 million.

   During the quarter, Manhattan Associates formed alliances and partnerships with Manugistics Group Inc. and Intentia. New customers signed in the first quarter include Belkin Components, Bob Evans Farms Inc., Healthcare Logistics Ltd., Hibbett Sporting Goods Inc., Russ Berrie and Co. Inc., and Yazaki North America Inc.