Manugistics Posts Earnings of 3 Cents a Share
NEW YORK (Reuters) - Internet business services company Manugistics Group Inc. (NasdaqNM:MANU - news) on Thursday reported fiscal second-quarter net income, excluding the expense of non-cash stock compensation to its employees, of $1 million, or 3 cents a diluted share -- beating analysts' expectations.
Analysts had expected the company to break even, according to a consensus of estimates tracked by First Call/Thomson Financial.
The Rockville, Md.-based company's latest results mark a reversal from the year-ago quarter, when Manugistics reported a net loss of $3.4 million, or 13 cents per share.
Manugistics, in a statement, said that if its expense of non-cash stock compensation to employees is included, its fiscal second-quarter results would be a net loss of $19.68 million, or 69 cents per share. The expense is related re-priced stock options granted to employees in January 1999.
The company also said it has signed an agreement to acquire privately held Talus Solutions Inc., of Atlanta, for about $366 million in stock.
Manugistics said in a statement that Talus, which provides software to manage pricing and revenue for business, reported about $40 million in revenue in fiscal year 1999.
Manugistics also said its own total revenues had increased 72 percent to $58.2 million in its fiscal second quarter from $33.8 million in the same quarter a year ago.
The stock of Manugistics slipped 1/4 to $86-7/8 on the Nasdaq, below its 52-week high of $95-7/8. The year low for the stock was $9-1/16.
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