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Manhattan Associates beats Street 2Q forecasts

ATLANTA (AP) _ Manhattan Associates Inc. (MANH) on Thursday reported second-quarter profit of $31.1 million.

The Atlanta-based company said it had profit of 45 cents per share. Earnings, adjusted for restructuring costs and stock option expense, came to 50 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The business software company posted revenue of $154.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $153.8 million.

Manhattan Associates expects full-year earnings in the range of $1.85 to $1.89 per share, with revenue in the range of $590 million to $600 million.

Manhattan Associates shares have declined 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.43, a decline of 23 percent in the last 12 months.

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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

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Keywords: Manhattan Associates, Earnings Report