U.S. Markets open in 1 hr 21 mins

Manhattan Associates: 3Q Earnings Snapshot

ATLANTA (AP) _ Manhattan Associates Inc. (MANH) on Tuesday reported third-quarter earnings of $27.1 million.

The Atlanta-based company said it had net income of 42 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 51 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The business software company posted revenue of $162.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $151.7 million.

Manhattan Associates expects full-year earnings in the range of $1.63 to $1.65 per share, with revenue in the range of $610 million to $614 million.

Manhattan Associates shares have risen 76% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $74.60, an increase of 55% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MANH at https://www.zacks.com/ap/MANH