Beste redactie,
Manhattan Associates heeft zijn financiële resultaten voor het vierde kwartaal en het volledige jaar 2011 bekend gemaakt. Voor de wereldwijde marktleider in supply chain optimalisatie-oplossingen betekende het vierde kwartaal 2011 het beste vierde kwartaal ooit. 2011 gaat de boeken in als een jaar van sterke omzetgroei. U vindt het volledige, Engelstalige persbericht onderstaand:
Manhattan Associates Reports Record Fourth Quarter and Full Year 2011 Earnings on Strong Revenue Growth
ATLANTA – January 31, 2012 – Leading supply chain optimization provider Manhattan Associates, Inc. (NASDAQ: MANH) today reported record fourth quarter 2011 non-GAAP adjusted diluted earnings per share of $0.60 compared to $0.38 in the 2010 fourth quarter, on license revenue of $16.6 million and total revenue of $83.5 million. For the quarter, license revenue increased 31% and total revenue increased 17% versus the prior year. GAAP diluted earnings per share were a record $0.50 compared to $0.29 in the prior year fourth quarter.
For the year ended December 31, 2011, non-GAAP adjusted diluted earnings per share were a record $2.32 compared to $1.58 for the full year 2010, and GAAP diluted earnings per share were a record $2.09 compared to $1.25 in the prior year. For the twelve months ended December 31, 2011, the Company recorded total revenue of $329.3 million, an increase of 11%, compared to 2010 full year revenue.
Manhattan Associates President and CEO Pete Sinisgalli commented, “We are quite pleased with the market’s reception for our full complement of platform-based supply chain solutions. Our results reflect our customers’ support for leveraging common technology, data and workflows to improve performance and lower total cost of ownership across their supply chains.”
FOURTH QUARTER 2011 FINANCIAL SUMMARY:
- Adjusted diluted earnings per share, a non-GAAP measure, were a record $0.60 in the fourth quarter of 2011, compared to $0.38 in the fourth quarter of 2010.
- Consolidated total revenue for the fourth quarter of 2011 was $83.5 million, compared to $71.5 million in the fourth quarter of 2010. License revenue was $16.6 million in the fourth quarter of 2011, compared to $12.7 million in the fourth quarter of 2010.
- The Company reported record GAAP diluted earnings per share of $0.50 in the fourth
- quarter of 2011, compared to $0.29 in the fourth quarter of 2010.• Adjusted operating income, a non-GAAP measure, was $19.3 million in the fourth quarter of 2011, compared to $12.0 million in the fourth quarter of 2010.
- GAAP operating income for the fourth quarter of 2011 was $16.2 million, compared to $8.8 million in the fourth quarter of 2010.
- Cash flow from operations was $14.8 million in the fourth quarter of 2011, compared to $14.6 million in the fourth quarter of 2010. Days Sales Outstanding were 62 days at December 31, 2011, compared to 61 days at September 30, 2011.
- Cash and investments on-hand at December 31, 2011 was $99.1 million, compared to $101.7 million at September 30, 2011.
- The Company repurchased approximately 0.9 million common shares under the share repurchase program authorized by the Board of Directors, totaling $37.4 million in the fourth quarter of 2011. In January 2012, the Board of Directors approved raising the Company's remaining share repurchase authority to an aggregate of $50.0 million of Manhattan Associates’ outstanding common stock.
FULL YEAR FINANCIAL SUMMARY:
- Adjusted diluted earnings per share, a non-GAAP measure, were a record $2.32 for the twelve months ended December 31, 2011, compared to $1.58 for the twelve months ended December 31, 2010. Results for the twelve months ended December 31, 2011 include a $2.0 million tax benefit, or $0.09 per share, resulting from the reduction of a valuation allowance associated with a change in India tax law. The change eliminates the tax holiday for India companies under the STPI (Software Technology Park of India) tax plan.
- GAAP diluted earnings per share for the twelve months ended December 31, 2011 were a record $2.09, compared to $1.25 for the twelve months ended December 31, 2010. Results for the twelve months ended December 31, 2011 include a positive impact of $0.12 per share for the recovery of an auction rate security investment, which had been impaired in a prior period, and a $2.0 million tax benefit, or $0.09 per share, resulting from the reduction of a valuation allowance associated with a change in India tax law mentioned above. The prior year results include $0.04 per share of recoveries of previously expensed sales tax associated with expiring sales tax audit statutes.
- Consolidated total revenue for the twelve months ended December 31, 2011 was $329.3 million, compared to $297.1 million for the twelve months ended December 31, 2010. License revenue was $54.2 million for the twelve months ended December 31, 2011, compared to $54.5 million in the twelve months ended December 31, 2010.
- Adjusted operating income, a non-GAAP measure, was $70.4 million for the twelve months ended December 31, 2011, compared to $53.4 million for the twelve months ended December 31, 2010.
- GAAP operating income was $61.4 million for the twelve months ended December 31, 2011, which includes a $2.5 million recovery of an auction rate security investment referred to above, compared to $41.9 million for the twelve months ended December 31, 2010.
- For the twelve months ended December 31, 2011, the Company repurchased approximately 3.6 million common shares under the share repurchase program authorized by the Board of Directors, for a total investment of $130.7 million.
SALES ACHIEVEMENTS:
- Closing five contracts of $1.0 million or more in recognized license revenue during the quarter, for a total of 13 contracts of $1.0 million or more in recognized license revenue for the full year 2011.
- Completing software license wins with new customers such as: Ahold USA, Inc.; Alliant Techsystems, Inc.; Charming Shoppes of Delaware, Inc.; Freight Mark Sdn Bhd; Jeanswest Corporation Pty Ltd; Karmaloop, Inc.; Pitt-Ohio, Inc.; Schneider Electric Industries; Shanghai RongChen Boshiwa Group Co., Ltd; Société Coopérative d’approvisionnement Rhone Alpes (E. Leclerc); Stella & DOT LLC; S.F. Express (Group) Co., Ltd.; and The Container Store.
- Expanding partnerships with existing customers such as: A.N. Deringer, Inc.; Belk, Inc.; Brown Shoe Company, Inc.; BuBuGao; Chanel; Coach, Inc.; Fasteners for Retail; GSI Commerce Solutions, Inc.; Heineken Enterprise SAS; Holiday Classic; Jack Link's Beef Jerky; Legrand North America, Inc.; Leisure Arts, Inc.; MARR Russia; Mulberry Group Plc; MWI Veterinary Supply Co.; LeSaint Logistics (fka IMC Logistics); Northern Tool & Equipment Co., Inc.; Performance Team Freight Systems, Inc.; PETCO Animal Supplies Stores, Inc.; Simplehuman LLC; Sara Lee Corporation; Southern Wine & Spirits of America, Inc.; Speed Global Services; and The Jones Group.
2012 GUIDANCE
Manhattan Associates provides the following revenue and diluted earnings per share guidance for the full year 2012. A full reconciliation of GAAP to non-GAAP diluted earnings per share is included in the supplemental attachments to this release.
Manhattan Associates currently intends to publish, in each quarterly earnings release, certain expectations with respect to future financial performance. These statements are forward- looking. Actual results may differ materially, especially in the current uncertain economic environment. These statements do not reflect the potential impact of mergers, acquisitions or other business combinations that may be completed after the date of this release.
Manhattan Associates will make its earnings release and published expectations available on its website (
www.manh.com). Beginning March 15, 2012, Manhattan Associates will observe a “Quiet Period” during which Manhattan Associates and its representatives will not comment concerning previously published financial expectations. Prior to the start of the Quiet Period, the public can continue to rely on the expectations published in this 2012 Guidance section as being Manhattan Associates’ current expectation on matters covered, unless Manhattan Associates publishes a notice stating otherwise. During the Quiet Period, previously published expectations should be considered historical only, speaking only as of or prior to the Quiet Period, and Manhattan Associates disclaims any obligation to update any previously published financial expectations during the Quiet Period. The Quiet Period will extend until publication of Manhattan Associates’ next quarterly earnings release, currently scheduled for the third full week of April 2012.
ABOUT MANHATTAN ASSOCIATES, INC.
Manhattan Associates continues to deliver on its 22-year heritage of providing global supply chain excellence to more than 1,200 customers worldwide that consider supply chain optimization core to their strategic market leadership. The Company's supply chain innovations include: Manhattan SCOPE®, a portfolio of software solutions and technology that leverages a Supply Chain Process Platform to help organizations optimize their supply chains from planning through execution; Manhattan SCALETM, a portfolio of distribution management and transportation management solutions built on Microsoft .NET technology; and Manhattan CarrierTM, a suite of supply chain solutions specifically addressing the needs of the motor carrier industry. For more information, please visit
www.manh.com.
This press release contains “forward-looking statements” relating to Manhattan Associates, Inc. Forward-looking statements in this press release includes the information set forth under “2012 Guidance.” Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: uncertainty about the global economy; delays in product development; competitive pressures; software errors; and additional risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2010. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.