The supply chain technology provider’s profits jump 17%.
Manhattan Associates Inc., which sells web-based supply chain and warehouse management systems to retailers and other companies, benefitted from a rise in its services business in the first quarter as total revenue grew 5.6% and net income increased 17.1%, the company says. It services business includes helping to implement and upgrade software.
“While it remains somewhat difficult to predict the effect of the sluggish global economy, we are well positioned for a solid year in 2013 and beyond,” president and CEO Eddie Capel says.
For the first quarter ended March 31, Manhattan Associates reported the following:
● Total revenue of $96.601 million, up 5.6% from $91.481 million for the same period last year;
● Software licensing revenue of $14.245 million, down 8.6% from $15.587 million in Q1 2012;
● Services revenue of $74.887 million, up 6.4% from $70.370 million;
● Hardware and other revenue of $7.469 million, up 35.2% from $5.524 million;
● Net income of $13.355 million, up 17.1% from $11.402 million.
Manhattan Associates is ranked second among providers of fulfillment technology and seventh among providers of order management technology in Internet Retailer’s Leading Vendors to the Top 1000 E-Retailers guide. It has 12 clients listed in the Internet Retailer Top 500 Guide and two in the Second 500 Guide.