Manhattan Associates earnings steady in Q2 2017

The software and supply chain solutions company posted a strong second quarter for license revenue, according to CEO Eddie Chapel.    Software and supply chain solutions provider Manhattan Associates reported total revenues of $154.1 million for the second quarter of 2017, with diluted earnings per share of $0.45 per share compared to $0.46 per share in Q2 2016.
   License revenues stood at $22.4 million for the second quarter, compared to $20.6 million in 2016.
   For the first half of the year, consolidated revenue was $297.6 million, compared to $304.8 million for the six months ended June 30, 2016.
   “Q2 represents a strong quarter of solid license revenue and pipeline activity well balanced across all three regions,” said Eddie Capel, president and chief executive officer of Manhattan Associates. “During the quarter, we also made a strategic introduction of our next-generation software, the Manhattan Active portfolio, and have been very encouraged by customer interest and pipeline activity as a result.”
    During the second quarter, the software company repurchased 535,340 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $25.0 million. In July 2017, the Board of Directors authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock, said the company.
   “We expect retail market headwinds, while challenging the speed of decision making, to present meaningful growth potential for Manhattan as many retailers address strategic challenges with enterprise transformation,” said Capel. 
   “We are very focused on seizing this opportunity with the introduction of Manhattan Active Omni, the industry’s first cloud native omni-channel operations platform and the only application suite in the market that fully melds Order Management, Point of Sale, Clienteling, Store Inventory and Fulfillment into a single, cloud native solution,” he added. “We are pleased with the market’s enthusiasm for our latest innovation releases and continue to invest significant energy and capital to advance the world’s leading suite of Supply Chain Commerce solutions to extend our market leadership in 2017 and beyond.”