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Manhattan Associates Reports Fourth Quarter and Full Year 2008 Revenue and Earnings


Leading supply chain optimization provider Manhattan Associates, Inc. (NASDAQ: MANH) today reported fourth quarter 2008 Earnings Per Share (EPS) in line with adjusted guidance previously issued for the quarter.

The Company's fourth quarter adjusted diluted earnings per share, a non-GAAP measure, were $0.26 compared to $0.37 in the 2007 fourth quarter, and within the Company's previously issued guidance range of $0.24 to $0.34 for the quarter ended December 31, 2008. GAAP diluted earnings per share were $0.08, a 76% decrease compared to the fourth quarter of 2007, due to a fourth quarter restructuring charge and an 11% drop in fourth quarter revenue compared to the fourth quarter of 2007. In 2008, the Company posted fourth quarter revenue of $75.7 million, and full-year revenue of $337.2 million, essentially flat with 2007 full-year revenue.

Manhattan Associates President and CEO Pete Sinisgalli commented, "Fourth quarter results were about as expected. The selling environment continued to be quite difficult, with several opportunities pushing into 2009. Nonetheless, with the actions we took during the fourth quarter to lower headcount and reduce expenses, we were able to post a decent financial result. More important, during the fourth quarter and throughout 2008, we made significant progress extending our market-leading suite of Supply Chain Optimization solutions."

"We do not expect the market to improve until the latter half of 2009 at the earliest," Sinisgalli continued. " However, we will continue to place significant energy into developing and advancing the world's leading suite of Supply Chain Optimization solutions, so that when markets return to more normal activity levels, we will be poised to capture significant market share," he concluded.

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