U.S. Markets close in 1 hr 30 mins

Manhattan Associates posts 1Q profit

ATLANTA (AP) _ Manhattan Associates Inc. (MANH) on Thursday reported first-quarter profit of $28.2 million.

On a per-share basis, the Atlanta-based company said it had net income of 40 cents. Earnings, adjusted for stock option expense and amortization costs, were 42 cents per share.

The business software company posted revenue of $143.5 million in the period.

Manhattan Associates expects full-year earnings in the range of $1.89 to $1.93 per share, with revenue in the range of $606 million to $620 million.

Manhattan Associates shares have decreased almost 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $50.58, a drop of 25 percent 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

_____

Keywords: Manhattan Associates, Earnings Report