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Technology Stocks : Manhattan Associates, Inc. (MANH)
MANH 249.81+10.5%3:59 PM EDT

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To: hoyasaxa who wrote (15)3/3/1999 10:42:00 PM
From: CoffeePot  Read Replies (1) of 19
 
With any luck get ready for a great buying opportunity tomorrow. I think margin calls played a significant role in today's melt down....-43% in a single stock is a heck of a hit to take even for a well diversified portfolio.....regardless I still think MANH will see brighter days ahead.

Some key points:

Analysts' cut earnings,
-- Cut estimate of the current quarter to $0.08 a share from $0.10 a share.
>>>>This might not be great but it's not terrible either

-- Noted that he believes the company will be successful in winning larger deals, and that the potential shortfall is a timing issue and not one reflective of underlying company fundamentals.


A look at last Quarter

Revenue for the fourth quarter ended December 31, 1998 was $20.0 million, an increase of 109% from revenue of $9.6 million for the fourth quarter ended December 31, 1997. License fees for the fourth quarter ended December 31, 1998 were $4.9 million, an increase of 165% over license fees of $1.9 million for the fourth quarter of the prior year. Net income for the fourth quarter ended December 31, 1998 was $2.4 million, an increase of 112%, compared to pro forma net income of $1.1 million for the fourth quarter ended December 31, 1997. Net income per share was $0.09 for the fourth quarter ended December 31, 1998 compared to pro forma net income per share of $0.05 for the fourth quarter ended December 31, 1997.

For the year ended December 31, 1998, revenue was $62.1 million, an increase of 91% from revenue of $32.5 million for the year ended
December 31, 1997. Pro forma net income for the year ended December 31, 1998, excluding the effect of the first quarter acquired research
and development charge of $1.6 million, was $7.7 million, or $0.30 per share, compared to pro forma net income of $5.3 million, or $0.25
per share, for the year ended December 31, 1997.

During the fourth quarter the Company significantly grew its sales management and sales team, expanded its business in the U.K. and
expanded its product line. Specifically, during the fourth quarter the Company invested substantially in new product development. In
particular, the Company invested in a Third Party Logistics billing product and an Engineered Labor Standards product and made significant
progress in the development of three new products: the Internet Transportation Guide, an integrated version of Slot-It for windows and the
Optimization suite of products. In conjunction with the development of these products the Company capitalized approximately $600,000 of
research & development expenses in the fourth quarter. Those capitalized costs will be amortized over the life of these products, which is
expected to be three years.

''The growth of our license fees in the fourth quarter reflects the expanding opportunity in our market,'' said Alan Dabbiere, Manhattan
Associates' President and CEO. ''We feel confident that the investments that we have made in new product development and the expansion of our sales organization will enable us to meet the growing demand for our products. Furthermore, the new products that we have
introduced, and products that we have under development, further differentiate Manhattan Associates in the marketplace.''
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