Manhattan Associates 1st-qtr income tops Wall Street view

Manhattan Associates Inc., which provides software and services that help companies manage inventory and supplies, on Tuesday reported first-quarter income above analyst estimates, as revenue climbed.

The Atlanta-based company posted net income of $7.4 million, or 30 cents per share, compared with $5.4 million, or 19 cents per share, in the year-ago period. Excluding an expense for stock-based compensation and other items, the company reported adjusted earnings of 35 cents per share.

Analysts expected income of 27 cents per share, according to a poll by Thomson Financial.

Revenue climbed to $88.3 million from $78.2 million. Analysts forecast $84.6 million in revenue.

Manhattan Associates said revenue from services grew to $59.8 million from $54.8 million. License revenue climbed to $18.3 million from $13.7 million.

"We're pleased with our performance in the first quarter of 2008. License revenue in all three regions was solid," Manhattan Associates Chief Executive Pete Sinisgalli said in a statement.

The company also raised its guidance for the full year.

Shares rose 21 cents to $21.67 in aftermarket activity. Earlier, they slipped 22 cents to close regular trading at $21.46.