Manhattan Associates (MANH) Lowers Q2 Guidance
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Manhattan Associates, Inc. (Nasdaq: MANH) lowered its second quarter adjusted earnings per share expectations to a range of $.08 to $.12 per share and GAAP earnings expectations to a range of a loss of $.09 to a loss of $.05. This compares with the Company's previous adjusted EPS guidance range of $.15 to $.30 and GAAP EPS range of a loss of $.02 to a profit of $.13. The consensus is a profit of $.22.
CEO Peter F. Sinisgalli said, "Sales activity in the second quarter was better than in the first quarter. However, customers and prospects continue to be reluctant to commit capital in the current environment. As a result, our license revenue for the quarter will likely be around $4 million, which accounts for the reduction in earnings per share to our original guidance range."
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