Supply Chain (SCM/SCE)

Supply Chain Management (SCM) & Supply Chain Execution (SCE) Software, Products & Solutions including Supply Chain Optimisation, hardware transport, supply-chain distribution software, freight software as well as load planning, vehicle routing & scheduling software in manufacturing and supply chain applications.

Manhattan Associates Reports Record First Quarter 2019 Performance

Company raises full-year Revenue and EPS guidance

24-Apr-2019
Manhattan Associates Reports Record First Quarter 2019 Performance
Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) reported record total revenue of $148.4 million for the first quarter ended March 31, 2019, applying the new revenue recognition standard retrospectively. GAAP diluted earnings per share for Q1 2019 was $0.32 compared to $0.33 in Q1 2018. Non-GAAP adjusted diluted earnings per share for Q1 2019 was $0.41 compared to $0.37 in Q1 2018.

“We’re very pleased with our start to 2019, delivering record Q1 total revenue and solid earnings per share growth on strong software and global services revenue. Market leading investments in our suite of Manhattan Active™ omnichannel, inventory and supply chain solutions are fueling demand and revenue growth,” said Eddie Capel, Manhattan Associates President and CEO. “Omnichannel, inventory management and supply chain evolution in our target markets have created an acute need for Manhattan’s software, enabling our clients to accelerate growth and Push Possible®. We remain committed to investing in innovation and are bullish on our growth opportunity in 2019 and beyond,” added Mr. Capel.

FIRST QUARTER 2019 FINANCIAL SUMMARY:
  • Consolidated total revenue was $148.4 million in Q1 2019, compared to $130.6 million in Q1 2018. License revenue was $12.4 million in Q1 2019, compared to $7.6 million in Q1 2018. Cloud subscription revenue was $7.9 million in Q1 2019, compared to $4.5 million in Q1 2018. Service revenue was $88.6 million in in Q1 2019, compared to $78.8 million in Q1 2018.
  • GAAP diluted earnings per share was $0.32 in Q1 2019 compared to $0.33 in Q1 2018.
  • Adjusted diluted earnings per share, a non-GAAP measure, was $0.41 in Q1 2019, compared to $0.37 in Q1 2018.
  • GAAP operating income was $28.3 million in Q1 2019, compared to $27.8 million in Q1 2018.
  • Adjusted operating income, a non-GAAP measure, was $35.6 million in Q1 2019, compared to $32.3 million in Q1 2018.
  • Cash flow from operations was $35.2 million in Q1 2019, compared to $51.3 million in Q1 2018. Days Sales Outstanding was 65 days at March 31, 2019, compared to 64 days at December 31, 2018.
  • Cash and investments totaled $104.9 million at March 31, 2019, compared to $100.6 million at December 31, 2018.
  • During the three months ended March 31, 2019, the Company repurchased 463,680 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $24.9 million. In April 2019, our Board authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock. 


2019 GUIDANCE
Manhattan Associates provides the following updated revenue, operating margin and diluted earnings per share guidance for the full year 2019: view here

Manhattan Associates currently intends to publish in each quarterly earnings release certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. Those statements, including the guidance provided above, do not reflect the potential impact of mergers, acquisitions or other business combinations that may be completed after the date of the release.

Manhattan Associates will make its earnings release and published expectations available on its website (www.manh.com). Following publication of this earnings release, any expectations with respect to future financial performance contained in this release, including the guidance above, should be considered historical only, and Manhattan Associates disclaims any obligation to update them.



FULL REPORT



Contact:
Dennis Story
Chief Financial Officer, Manhattan Associates, Inc.
Tel.: 770-955-7070, Email: dstory@manh.com


Rick Fernandez
Senior Manager, Corporate Communications, Manhattan Associates, Inc.
Tel.:678-597-6988, Email: rfernandez@manh.com


This press release contains “forward-looking statements” relating to Manhattan Associates, Inc. Forward-looking statements in this press release include, without limitation, the information set forth under “2019 Guidance,” statements we make about market adoption of our cloud-based solution and other statements identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “project,” “estimate,” and similar expressions. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: uncertainty about the global economy, risks related from transitioning our business from a traditional perpetual license software company (generally hosted by our customers on their own premises and equipment) to a subscription-based software-as-a service/cloud-based model, disruption in the retail sector, the possible effect of new U.S. tariffs on imports from other countries (and possible responsive tariffs on U.S. exports by other countries) on international commerce, delays in product development, competitive pressures, software errors, information security breaches and the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and in Item 1A of Part II in subsequent Quarterly Reports on Form 10-Q. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.

Hyper-personalisation through demand-driven supply chains

Digital giants have been leading the way with latest technologies, including AI and real-time data to provide massively tailored products and services

Command Alkon Named Great Supply Chain Partner for 2nd Consecutive Year

Selected for Helping Companies in Construction Transform Their Supply Chains with Best-of-Breed Technology

Elemica Enables Zero Disruption to Supply Chain on SAP Upgrades

Interoperability Significantly Simplifies Time and Effort for Migration

Ryan Estis Slated as Opening Keynote Speaker for ELEVATE – Construction’s Heavy Work Conference

Ryan Estis Slated as Opening Keynote Speaker for ELEVATE – Construction’s Heavy Work Conference

SCALA continues growth with new executive appointment

The leading provider of management services for the supply chain and logistics sector with executive director

The business impact of the new PM’s approach

Smart procurement expert Alex Saric warns that businesses trading with the EU need to urgently review supply chain operations ahead of Brexit

ELEVATE - Construction’s Heavy Work Conference & Expo

Offering Extensive Educational and Business Performance Sessions that Deliver Value and Help Drive Success in Your Organization

Command Alkon Introduces supplyCONNECT Replenish to Simplify Receiving of Raw Materials for Ready Mix Producer

Automates Manual, Paper-Based Processes to Improve Accuracy and Collaboration

Research finds that 3PLs still lack innovation

Third-party logistics companies (3PLs) are lacking in proactivity and continuous improvement, according to the latest research

Businesses must urgently solve their e-commerce supply chain challenges to unlock the full value of this power

New DHL report reveals majority of companies have failed to fully implement an e-commerce strategy despite recognizing its importance

The Modern Supply Chain Must Be Flexible – How Does Yours Compare?

Effects of globalization, economic volatility, e-commerce and changing product mix and customer preferences on the traditional supply chain

Overcoming zero visibility in the M&S supply chain

How Marks and Spencer transforms food supply chain operations

AEB’s new Customs Heroes drastically simplifies customs clearance and international growth

Take your business into new markets. Cut costs in shipping and personnel.

Sainsburys, BOSCH and Dyson amongst speakers confirmed for leading supply chain debate

On 27th June with five speakers from supply chain and logistics leadership roles at some of the UK’s biggest brands.

Honeywell Launches Online Store to Streamline Access to Business-Critical Software

Direct access to discovering and purchasing Honeywell and third-party enterprise mobile apps

NetApp Revolutionizes Data Fabric to Dominate Hybrid Multicloud

Company gives customers the freedom to choose any cloud with one experience

Going, Going Greener

Bureau Veritas spearheads the importance of a sustainable supply chain on world accreditation day

The Story Behind Stopping Counterfeit Tobacco

New European Union regulations require tobacco manufacturers track products

Basketball Hall of Fame Selects Imagination Park’s Augmented Reality Solution

Basketball HOF to Launch First-Ever AR Fundraising Program this Summer

Zetes supporting the fightback of the illicit supply of tobacco

Six major Belgian tobacco manufacturers are working with Zetes to make their supply chain compliant with the revised Tobacco Products Directive (TPD)

Centiro with new Senior Vice President to lead North America expansion

Kevin Crough appointed to lead Centiro’s continued North America expansion

Are Retailers Waking up to the Supply Chain Visibility Imperative?

Supply chain research from Zetes followed by comments from Amir Harel, Zetes' General Manager of Visibility Solutions

A.G. Barr partners with SCALA to implement successful Demand Driven production

Cloud-based supply chain solution to improve product lines stability

Gartner Identifies the Top 8 Supply Chain Technology Trends in 2019

Analysts Will Explore Top Industry Trends at Gartner Supply Chain Executive Conference, May 13-16 in Phoenix, AZ

Call for Speakers Open for Construction’s Heavy Work Conference - ELEVATE

Seeking Submissions for Stories that Deliver Value and Help Drive Success across the Construction Industry

BSI reports top supply chain themes for 2019

BSI SCREEN’s new report highlights the top challenges, developments, and trends likely to impact supply chains this year

Award Honors Dairy Brand’s Supply Chain Transformation Initiative

Logility Voyager Solutions™ as the platform for the digital supply chain optimization

Iptor announces launch of Mobile CRM Light

Add-on module fully integrated into core ERP solution DC1 to accelerate sales processes

Mitsubishi Heavy Industries Selects PTC Windchill to Drive Innovation and Improve Operational Efficiency

Advanced Capabilities of PTC Windchill Displace Competitive Product at MHIET

Butcher's Pet Care: transforming promotions and offers with SKUtrak

Butcher’s Pet Care, the UK’s number one canned dog food brand, has embraced a new way of working through SKUtrak.

Palletways London Appoints Experienced General Manager

Palletways London has appointed Colin Sturgess as its new general manager to develop the business in London, the South East of England and Europe

Asian manufacturing and logistics sectors power ahead with IoT adoption despite some concerns

New report reveals the readiness of Asian manufacturers and supply chain enterprises in the adoption of innovation in the IIoT

CHEP celebrate twelve years of injury-free working at Dublin plant

CHEP has celebrated twelve years of incident-free working at the company’s Dublin plant through an industry leading health & safety initiative

Government launches flagship auto supply chain programme – SMMT Industry Forum will support the delivery

New government-backed programme to improve UK manufacturing competitiveness and productivity is open for business

Mulberry Implements Aptos to Support Supply Chain Transformation

Live with Aptos Planning, the iconic British brand will implement Aptos PLM and Supply Chain Management solutions as a second phase of the program

Tecsys Extends Supply Chain Solutions with DOM Capabilities to Optimize Omnichannel Fulfillment

Company’s warehouse management system (WMS) extended with top-tier distributed order management (DOM) capabilities

Command Alkon Announces Panelist, Tammy Presswood, to Participate in the “Women in the Industry” Webinar

Webinar Will Discuss the Challenges of Being A Woman in the Construction Industry, Balancing Career and Family

Zebra Technologies to Launch New Digital Supply Chain Solutions at ProMat 2019

Tablets, mobile computers and RFID solutions will drive intelligent fulfillment

Brambles among the top three sustainable companies in the world

Dow Jones’ Barrons magazine and Morgan Stanley Capital International have ranked Brambles as world-wide sustainability leader

SAP Executives Named Leaders in Supply Chain and Procurement Innovation for Eighth Year in a Row

As we look to the rest of 2019, organizations should expect to face many roadblocks and added pressure to evolve supply chain planning

Making international trade simpler: AEB partners with IoD on “2019 Open House on the Road for Global Business”

Trading with and expanding to international markets is the focus of 7 events for business leaders by the Institute of Directors

Implico shows the downstream industry how to become an ”Intelligent Energy Enterprise”

International SAP Conference for Oil and Gas in Milan: Implico shows the downstream industry how to become an ”Intelligent Energy Enterprise”

Priority Software Expands Presence in Europe, Acquires Belgium-based ERP Software, OPTIMIZE GROUP

Purchase of the “OPTIMIZE GROUP” enables Priority Software to foster its presence in Western Europe to better serve its rapidly growing customer base

Renovotec Acquires Supply Chain Mobile Technology Company Spirit Data Capture

Expanded company will have a combined turnover of £25 million

Descartes Sponsors True Heroes Racing for 2019 Season

Descartes has announced its sponsorship of True Heroes Racing

French Popcorn Company Nataïs Uses Blockchain for Digital Supply Chain Transparency

SAP partner STMS is helping French popcorn producer Nataïs digitalize its supply chain and provide transparency to consumers.

SCALA bolsters offering with new senior appointment

SCALA, continues to strengthen both its senior team and services with the appointment of a new associate director.

Elemica Acquires EMNS, a Leading Material Quality Compliance Provider

Manufacturers Extend Supply Chain Connectivity with Enhanced Material Quality Compliance