Manugistics `turning the corner'

Earnings

June 23, 1999|BY A SUN STAFF WRITER

Manugistics Group Inc., a Rockville-based software and consulting business that recently went through a restructuring that included 400 layoffs, reported first-quarter net income yesterday of $400,000, or about 1 cent per share, compared with a net loss of $8.5 million, or 33 cents a share, reported for the quarter that ended May 31, 1998.

The company reported a net loss for the fiscal year that ended Feb. 28 of $96.1 million, or $3.64 per share. The loss included a one-time charge of $36.9 million in acquisition and restructuring expenses.

"We believe that we are turning the corner and are well-positioned for the future. Building on this momentum, we intend to move swiftly to energize the company by adding new talent, delivering enhanced solutions and creating a world-class sales organization," said Gregory J. Owens, president and chief executive officer, who was hired in April.

Manugistics' core business is "supply-chain management" -- providing computer software to help companies manage their inventories.

Its stock closed at $15.3125 yesterday, up $2.375.

Pub Date: 6/23/99

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