What: Shares of Manhattan Associates (NASDAQ:MANH) were getting a boost today after reporting a strong earnings report. Shares were up 15.8% as of 3:02 p.m. EST.
So what: The software maker beat estimates across the board, posting a per-share profit of $0.42, better than expectations of $0.39, while revenue increased 12%, to $149.9 million, easily ahead of the consensus at $145 million. CEO Eddie Capel said he was "very pleased" with the company's results, touting "our investments in omni-channel, retail store and distribution management solutions."
The company that provides supply-management software and other business solutions said it completed license wins with new customers such as Central Garden & Pet and Levi Strauss in the quarter, and expanded its relationship with businesses including lululemon athletica and Under Armour.
Now what: Not only was the first-quarter performance ahead of expectations, but investors were also impressed by Manhattan Associates' guidance. The company lifted its full-year revenue projection to $615 million-$620 million from $609 million-$615 million, or a 10.5%-11.5% increase. It also upped its adjusted EPS guidance to $1.73-$1.76 from a prior range of $1.69-$1.72, representing an increase of 14%-16%.
Analysts had expected full-year revenue of $612.3 million, and earnings per share of $1.71. Manhattan Associates has breezed past estimates in its last four earnings reports, and the combination of a customer base of fast-growing businesses like Under Armour, and the ability to attract new customers, should drive continued growth. I'd expect Manhattan Associates to keep outperforming.