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Manugistics tops 3Q expectations

    Manugistics Group (Nasdaq: MANU) topped analyst forecasts by 2 cents in the third quarter.

    After market close Tuesday, the business software vendor reported fiscal third quarter net income of $3.4 million, or 5 cents per share, excluding a benefit related to stock compensation. First Call's survey of 11 analysts predicted a profit of 3 cents per share for the quarter ended Nov. 30.

    Shares of Manugistics rose to 47.75 in afterhours activity on the Island electronic communications network, immediately following the release of quarterly results. Manugistics fell 2.625 to 44.0625 in Tuesday's regular trading ahead of the earnings report.

    Including all items, Manugistics earned $9.4 million, or 14 cents per share.

    Third quarter revenue increased 96 percent year-over-year to $70 million. License fees rose 146 percent to $35.8 million. More than 40 percent of license fees came from eBusiness software, Manugistics CEO Greg Owens said.

    "Our focused, vertical market approach, and the significant investments we've made in our solutions, are two key factors propelling Manugistics success and momentum in the market," Owens said.>