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Day: 3 February 2023

Manhattan Associates Reports Record Results

Posted on by David Priestman

Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $198.1 million for the fourth quarter ended December 31, 2022. GAAP diluted earnings per share for Q4 2022 was $0.60 compared to $0.32 in Q4 2021. Non-GAAP adjusted diluted earnings per share for Q4 2022 was $0.81 compared to $0.48 in Q4 2021.

“Manhattan’s business momentum is strong, and our fourth quarter results exceeded expectations. This contributed to the company achieving record top- and bottom-line results in 2022,” said Manhattan Associates president and CEO Eddie Capel. “We enter 2023 optimistic about our market opportunity and remain committed to investing in market leading innovation. We are confident these investments will contribute to our high levels of customer satisfaction and extend our positioning as the leading innovator in core Supply Chain Execution, Omni-channel and retail Point of Sale solutions,” Capel concluded.

Results for the fourth Quarter ended December 31, 2022: Consolidated total revenue was $198.1 million for Q4 2022, compared to $171.5 million for Q4 2021.
• Cloud subscription revenue was $51.7 million for Q4 2022, compared to $34.8 million for Q4 2021.
• License revenue was $5.0 million for Q4 2022, compared to $11.9 million for Q4 2021.
• Services revenue was $99.8 million for Q4 2022, compared to $81.6 million for Q4 2021.
• GAAP diluted earnings per share was $0.60 for Q4 2022, compared to $0.32 for Q4 2021.
• Adjusted diluted earnings per share, a non-GAAP measure, was $0.81 for Q4 2022, compared to $0.48 for Q4 2021.
• GAAP operating income was $44.7 million for Q4 2022, compared to $27.1 million for Q4 2021.
• Adjusted operating income, a non-GAAP measure, was $59.9 million for Q4 2022, compared to $39.1 million for Q4 2021.
• Cash flow from operations was $55.2 million for Q4 2022, compared to $40.1 million for Q4 2021. Days Sales Outstanding was 77 days at December 31, 2022, compared to 67 days at September 30, 2022.
• Cash totalled $225.5 million at December 31, 2022, compared to $197.1 million at September 30, 2022.
• During the three months ended December 31, 2022, the Company repurchased 206,418 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $25.2 million. In January 2023, our Board of Directors approved replenishing the Company’s remaining share repurchase authority to an aggregate of $75.0 million of our common stock.

Full year 2022 financial summary:
• Consolidated total revenue for the twelve months ended December 31, 2022, was $767.1 million, compared to $663.6 million for the twelve months ended December 31, 2021.
– Cloud subscription revenue was $176.5 million for the twelve months ended December 31, 2022, compared to $122.2 million for the twelve months ended December 31, 2021.
– License revenue was $24.8 million for the twelve months ended December 31, 2022, compared to $37.1 million for the twelve months ended December 31, 2021.
– Services revenue was $394.1 million for the twelve months ended December 31, 2022, compared to $334.8 million for the twelve months ended December 31, 2021.
– GAAP diluted earnings per share for the twelve months ended December 31, 2022, was $2.03, compared to $1.72 for the twelve months ended December 31, 2021.
– Adjusted diluted earnings per share, a non-GAAP measure, was $2.76 for the twelve months ended December 31, 2022, compared to $2.23 for the twelve months ended December 31, 2021.
– GAAP operating income was $152.7 million for the twelve months ended December 31, 2022, compared to $134.3 million for the twelve months ended December 31, 2021.
– Adjusted operating income, a non-GAAP measure, was $212.1 million for the twelve months ended December 31, 2022, compared to $177.9 million for the twelve months ended December 31, 2021.
– Cash flow from operations was $179.6 million for the twelve months ended December 31, 2022, compared to $185.2 million for the twelve months ended December 31, 2021.
– During the twelve months ended December 31, 2022, the Company repurchased 1,352,954 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $175.4 million.

Manhattan Associates Reports Record Results

Posted on by David Priestman

Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $198.1 million for the fourth quarter ended December 31, 2022. GAAP diluted earnings per share for Q4 2022 was $0.60 compared to $0.32 in Q4 2021. Non-GAAP adjusted diluted earnings per share for Q4 2022 was $0.81 compared to $0.48 in Q4 2021.

“Manhattan’s business momentum is strong, and our fourth quarter results exceeded expectations. This contributed to the company achieving record top- and bottom-line results in 2022,” said Manhattan Associates president and CEO Eddie Capel. “We enter 2023 optimistic about our market opportunity and remain committed to investing in market leading innovation. We are confident these investments will contribute to our high levels of customer satisfaction and extend our positioning as the leading innovator in core Supply Chain Execution, Omni-channel and retail Point of Sale solutions,” Capel concluded.

Results for the fourth Quarter ended December 31, 2022: Consolidated total revenue was $198.1 million for Q4 2022, compared to $171.5 million for Q4 2021.
• Cloud subscription revenue was $51.7 million for Q4 2022, compared to $34.8 million for Q4 2021.
• License revenue was $5.0 million for Q4 2022, compared to $11.9 million for Q4 2021.
• Services revenue was $99.8 million for Q4 2022, compared to $81.6 million for Q4 2021.
• GAAP diluted earnings per share was $0.60 for Q4 2022, compared to $0.32 for Q4 2021.
• Adjusted diluted earnings per share, a non-GAAP measure, was $0.81 for Q4 2022, compared to $0.48 for Q4 2021.
• GAAP operating income was $44.7 million for Q4 2022, compared to $27.1 million for Q4 2021.
• Adjusted operating income, a non-GAAP measure, was $59.9 million for Q4 2022, compared to $39.1 million for Q4 2021.
• Cash flow from operations was $55.2 million for Q4 2022, compared to $40.1 million for Q4 2021. Days Sales Outstanding was 77 days at December 31, 2022, compared to 67 days at September 30, 2022.
• Cash totalled $225.5 million at December 31, 2022, compared to $197.1 million at September 30, 2022.
• During the three months ended December 31, 2022, the Company repurchased 206,418 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $25.2 million. In January 2023, our Board of Directors approved replenishing the Company’s remaining share repurchase authority to an aggregate of $75.0 million of our common stock.

Full year 2022 financial summary:
• Consolidated total revenue for the twelve months ended December 31, 2022, was $767.1 million, compared to $663.6 million for the twelve months ended December 31, 2021.
– Cloud subscription revenue was $176.5 million for the twelve months ended December 31, 2022, compared to $122.2 million for the twelve months ended December 31, 2021.
– License revenue was $24.8 million for the twelve months ended December 31, 2022, compared to $37.1 million for the twelve months ended December 31, 2021.
– Services revenue was $394.1 million for the twelve months ended December 31, 2022, compared to $334.8 million for the twelve months ended December 31, 2021.
– GAAP diluted earnings per share for the twelve months ended December 31, 2022, was $2.03, compared to $1.72 for the twelve months ended December 31, 2021.
– Adjusted diluted earnings per share, a non-GAAP measure, was $2.76 for the twelve months ended December 31, 2022, compared to $2.23 for the twelve months ended December 31, 2021.
– GAAP operating income was $152.7 million for the twelve months ended December 31, 2022, compared to $134.3 million for the twelve months ended December 31, 2021.
– Adjusted operating income, a non-GAAP measure, was $212.1 million for the twelve months ended December 31, 2022, compared to $177.9 million for the twelve months ended December 31, 2021.
– Cash flow from operations was $179.6 million for the twelve months ended December 31, 2022, compared to $185.2 million for the twelve months ended December 31, 2021.
– During the twelve months ended December 31, 2022, the Company repurchased 1,352,954 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $175.4 million.

Diesel Truck Particulate Filter Cleaning

Posted on by David Priestman

In line with its five-year expansion strategy to meet the anticipated growth in cleaning demand from major truck manufacturers and operators, Ceramex has seen its diesel particulate filter (DPF) cleaning volume increase by 15% year on year.

The number of DPFs processed has significantly increased from before the pandemic with regular weekly throughput of more than 2,000 units per week. Increased logistics fleet activity both nationally and in Europe and the expansion of its customer base has contributed to the uplift in volume, helped by the company’s ability to process a significantly larger volume of DPFs, following its relocation to a brand-new, 67,000 square-foot facility in Reading in 2021.

As 2023 gets underway, Ceramex, which is the UK’s leading provider of patented DPF cleaning, remanufacturing and inspection services, anticipates an even busier year in response to rising customer demand.

Barney Milles, Managing Director of Ceramex, commented:

“Our performance over the last year clearly demonstrates the demand for cleaning and remanufacturing of commercial DPFs. Having our Reading facility fully operational with scope for increased capacity, positions Ceramex as a UK market leader in scalable DPF cleaning for HGV, PSV and off-highway vehicles. There are over 400,000 diesel-fuelled HGVs operating in the UK, plus thousands of foreign registered trucks, so it’s vital to keep their emissions control systems running as efficiently as possible, in accordance with Euro VI emissions regulations. Overall, our mission is to help keep truck fleets emission-compliant and operating cost-efficiently, which also demonstrates the commitment of Ceramex to helping customers reduce costs whilst driving towards cleaner air.”

Diesel Particulate Filter cake

Ceramex’s patented Xpurge® DPF cleaning process uses a combination of purified water and air to remove accumulated soot and ash deposits from the filter. As the deposits are suspended in water, there is no risk of them entering the atmosphere. The cleaning process removes between 350-450g of soot and ash from each filter, which restores it to at least 95% or more of brand new functionality, thereby avoiding the need for a brand new and costly DPF.

Each DPF is quality checked with Ceramex’s patented Veritex® automated inspection technology, which uses light and infrared transmission to verify a DPF’s internal condition. This technology provides an image of the internal structure of the filter, identifying any blockages, exotherm damage and cracks. Veritex® also provides a visual confirmation that the filter has been cleaned properly and generates a unique record of the DPF’s condition every time it’s cleaned, enabling filters to be monitored throughout their service life.

The resultant soot and ash that’s collected forms a ‘filter cake’ of particulate matter. Ceramex ships approximately 30 tons per year to a waste management partner for further treatment prior to its disposal as non-hazardous waste at a licensed landfill site.

Diesel Truck Particulate Filter Cleaning

Posted on by David Priestman

In line with its five-year expansion strategy to meet the anticipated growth in cleaning demand from major truck manufacturers and operators, Ceramex has seen its diesel particulate filter (DPF) cleaning volume increase by 15% year on year.

The number of DPFs processed has significantly increased from before the pandemic with regular weekly throughput of more than 2,000 units per week. Increased logistics fleet activity both nationally and in Europe and the expansion of its customer base has contributed to the uplift in volume, helped by the company’s ability to process a significantly larger volume of DPFs, following its relocation to a brand-new, 67,000 square-foot facility in Reading in 2021.

As 2023 gets underway, Ceramex, which is the UK’s leading provider of patented DPF cleaning, remanufacturing and inspection services, anticipates an even busier year in response to rising customer demand.

Barney Milles, Managing Director of Ceramex, commented:

“Our performance over the last year clearly demonstrates the demand for cleaning and remanufacturing of commercial DPFs. Having our Reading facility fully operational with scope for increased capacity, positions Ceramex as a UK market leader in scalable DPF cleaning for HGV, PSV and off-highway vehicles. There are over 400,000 diesel-fuelled HGVs operating in the UK, plus thousands of foreign registered trucks, so it’s vital to keep their emissions control systems running as efficiently as possible, in accordance with Euro VI emissions regulations. Overall, our mission is to help keep truck fleets emission-compliant and operating cost-efficiently, which also demonstrates the commitment of Ceramex to helping customers reduce costs whilst driving towards cleaner air.”

Diesel Particulate Filter cake

Ceramex’s patented Xpurge® DPF cleaning process uses a combination of purified water and air to remove accumulated soot and ash deposits from the filter. As the deposits are suspended in water, there is no risk of them entering the atmosphere. The cleaning process removes between 350-450g of soot and ash from each filter, which restores it to at least 95% or more of brand new functionality, thereby avoiding the need for a brand new and costly DPF.

Each DPF is quality checked with Ceramex’s patented Veritex® automated inspection technology, which uses light and infrared transmission to verify a DPF’s internal condition. This technology provides an image of the internal structure of the filter, identifying any blockages, exotherm damage and cracks. Veritex® also provides a visual confirmation that the filter has been cleaned properly and generates a unique record of the DPF’s condition every time it’s cleaned, enabling filters to be monitored throughout their service life.

The resultant soot and ash that’s collected forms a ‘filter cake’ of particulate matter. Ceramex ships approximately 30 tons per year to a waste management partner for further treatment prior to its disposal as non-hazardous waste at a licensed landfill site.

Titanosaur Skeleton Flown from Argentina to UK

Posted on by David Priestman

IAG Cargo, the cargo division of International Airlines Group, has safely delivered one of the largest dinosaurs to walk the Earth on a shipment from Buenos Aires to London Heathrow. The titanosaur Patagotitan mayorum is around the same length as a British Airways’ Airbus A320 aircraft or four double decker buses.

The Natural History Museum confirmed IAG Cargo as its official exhibition logistics partner for its upcoming exhibition Titanosaur: Life as the biggest dinosaur back in November 2022. Now on UK soil, this will be the first time the magnificent titanosaur will be displayed in Europe.

The dinosaur’s journey started in Trelow, Argentina, from where the cast travelled to Buenos Aires before it moved onto London. In Trelow, Argentina, Patagotitan was dismantled into more than 40 crates – to be flown in the bellyhold of two British Airways B787-9 passenger aircrafts. Upon landing at London Heathrow, the unique freight was transported to a special facility ahead of its journey to the Natural History Museum where it will be re-assembled ready for public display in March.

IAG Cargo has many years of experience in transporting high-value, unique and precious consignments via its dedicated ‘Secure’ product, ensuring total peace of mind when it comes to moving cargo like the awe-inspiring titanosaur.

John Cheetham, Chief Commercial Officer at IAG Cargo commented: “It is a privilege to partner with the Natural History Museum as the custodian of some of the world’s most important scientific artefacts. I want to thank our teams in Argentina and the UK who made this colossal task of transporting a 37-metre dinosaur a reality.”

Alex Burch, Director of Public Programmes at the Natural History Museum commented: “We’re pleased to have IAG Cargo as our exhibition logistics partner on this exhibition. As one of the largest dinosaurs to ever roam the Earth, it is so important that we are able to showcase this cast to the public, connecting our visitors with nature and inspiring them to care for the large animals we share the planet with today.”

British Airways’ Captain Simon Boswell, said: “I and the entire team felt honoured and privileged to fly this unique artefact from Argentina to the UK, and it was really very special to have been able to carry this precious cargo on a British Airways’ aircraft. Working with our sister company IAG Cargo, we’re delighted to have been able to play our part in its safe onward journey.”

The Natural History Museum is both a world-leading science research centre and the most-visited indoor attraction in the UK. With a vision of a future in which both people and the planet thrive, it is uniquely positioned to be a powerful champion for balancing humanity’s needs with those of the natural world.

It is custodian of one of the world’s most important scientific collections comprising over 80 million specimens accessed by researchers from all over the world both in person and via over 30 billion digital data downloads to date. The Museum’s 350 scientists are finding solutions to the planetary emergency from biodiversity loss through to the sustainable extraction of natural resources.

The Museum uses its global reach and influence to meet its mission to create advocates for the planet – to inform, inspire and empower everyone to make a difference for nature. We welcome millions of visitors through our doors each year, our website has had 17 million visits in the last year and our touring exhibitions have been seen by around 20 million people in the last 10 years.

IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, Vueling and bmi, IAG Cargo now covers a global network. In 2021, IAG Cargo had a commercial revenue of €1,673 million. It has a combined workforce of more than 2,250 people. Its parent company, International Airlines Group, is one of the world’s largest airline groups with 531 aircraft at 31st December 2021. It is the third largest group in Europe and the sixth largest in the world, based on revenue.

Titanosaur Skeleton Flown from Argentina to UK

Posted on by David Priestman

IAG Cargo, the cargo division of International Airlines Group, has safely delivered one of the largest dinosaurs to walk the Earth on a shipment from Buenos Aires to London Heathrow. The titanosaur Patagotitan mayorum is around the same length as a British Airways’ Airbus A320 aircraft or four double decker buses.

The Natural History Museum confirmed IAG Cargo as its official exhibition logistics partner for its upcoming exhibition Titanosaur: Life as the biggest dinosaur back in November 2022. Now on UK soil, this will be the first time the magnificent titanosaur will be displayed in Europe.

The dinosaur’s journey started in Trelow, Argentina, from where the cast travelled to Buenos Aires before it moved onto London. In Trelow, Argentina, Patagotitan was dismantled into more than 40 crates – to be flown in the bellyhold of two British Airways B787-9 passenger aircrafts. Upon landing at London Heathrow, the unique freight was transported to a special facility ahead of its journey to the Natural History Museum where it will be re-assembled ready for public display in March.

IAG Cargo has many years of experience in transporting high-value, unique and precious consignments via its dedicated ‘Secure’ product, ensuring total peace of mind when it comes to moving cargo like the awe-inspiring titanosaur.

John Cheetham, Chief Commercial Officer at IAG Cargo commented: “It is a privilege to partner with the Natural History Museum as the custodian of some of the world’s most important scientific artefacts. I want to thank our teams in Argentina and the UK who made this colossal task of transporting a 37-metre dinosaur a reality.”

Alex Burch, Director of Public Programmes at the Natural History Museum commented: “We’re pleased to have IAG Cargo as our exhibition logistics partner on this exhibition. As one of the largest dinosaurs to ever roam the Earth, it is so important that we are able to showcase this cast to the public, connecting our visitors with nature and inspiring them to care for the large animals we share the planet with today.”

British Airways’ Captain Simon Boswell, said: “I and the entire team felt honoured and privileged to fly this unique artefact from Argentina to the UK, and it was really very special to have been able to carry this precious cargo on a British Airways’ aircraft. Working with our sister company IAG Cargo, we’re delighted to have been able to play our part in its safe onward journey.”

The Natural History Museum is both a world-leading science research centre and the most-visited indoor attraction in the UK. With a vision of a future in which both people and the planet thrive, it is uniquely positioned to be a powerful champion for balancing humanity’s needs with those of the natural world.

It is custodian of one of the world’s most important scientific collections comprising over 80 million specimens accessed by researchers from all over the world both in person and via over 30 billion digital data downloads to date. The Museum’s 350 scientists are finding solutions to the planetary emergency from biodiversity loss through to the sustainable extraction of natural resources.

The Museum uses its global reach and influence to meet its mission to create advocates for the planet – to inform, inspire and empower everyone to make a difference for nature. We welcome millions of visitors through our doors each year, our website has had 17 million visits in the last year and our touring exhibitions have been seen by around 20 million people in the last 10 years.

IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, Vueling and bmi, IAG Cargo now covers a global network. In 2021, IAG Cargo had a commercial revenue of €1,673 million. It has a combined workforce of more than 2,250 people. Its parent company, International Airlines Group, is one of the world’s largest airline groups with 531 aircraft at 31st December 2021. It is the third largest group in Europe and the sixth largest in the world, based on revenue.

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