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Tech Industry

Manugistics rises on strong 1Q, upgrade

Manugistics (Nasdaq: MANU) shot up 39 percent Thursday after it reported a first-quarter loss of $1.2 million, or 4 cents a share, on sales of $50.5 million Wednesday, in line with most analysts' estimates.

Shares were up 9 3/16 to 34 11/16. First Call was expecting the company to report a loss of 4 cents a share.

The stock also got an upgrade from Deutsche Bc Alex Brown, who raised the stock from "buy" to "strong buy."

The $50.5 million in sales represents a 29 percent improvement from the year-ago quarter when it earned $400,000, or 1 cent a share, on sales of $39.2 million.

In the quarter, Manugistics' licensing sales surged to $26 million, up 98 percent from the $13.1 million it recorded in the year-ago quarter.

Last quarter, Manugistics beat the Street estimate when it posted a loss of $1.1 million, or 4 cents a share, on sales of $43.7 million.

The company competes with i2 technologies (Nasdaq: ITWO) and Logility (Nasdaq: LGTY).