We recommend the purchase of Manhattan Associates (MANH @$19.75). MANH provides information technology solutions for distribution centers that are designed to enable the efficient movement of goods through the supply chain. For the six months ended 6/30/02, total revenues rose 17% to $87.3 million. Net income rose 30% to $11.8 million. We estimate MANH to earn $.85 on $180 revenue this year and $1.05 per share next year. As of the most recent quarter, MANH has $4.37 per share in cash.
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