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BY A SUN STAFF WRITER | June 23, 1999
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.
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BUSINESS
January 4, 2005
New Positions Merritt appoints Hood as marketing director Merritt Athletic Clubs appointed Donyel Hood as director of marketing for the Baltimore-based chain of physical fitness centers. She is responsible for developing corporate marketing efforts for the firm's 10 locations. The Towson University graduate lives in Baltimore and formerly was director of marketing and public relations for Community Health Charities. Manugistics Group names West a vice president Manugistics Group Inc. named Janie West vice president of mid-markets for the provider of supply chain management solutions.
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BUSINESS
June 27, 1997
Shares of Manugistics Group Inc. soared yesterday after the company reported much-better-than-expected earnings for the quarter that ended in May, extending the run of a stock that was already Maryland's top performer in 1997.The stock jumped $7.25 to $45.25 after Manugistics reported profit had jumped 82 percent to $2.0 million, or 9 cents a share, on an 85 percent increase in sales to $34.2 million, including a 138 percent sales gain in software to help manufacturers plan production processes.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | August 31, 2004
Manugistics Group Inc., once a technology high-flier that saw its fortunes fall after the dot-com bust, announced yesterday that it fired its president a month after bringing in a turnaround specialist to reorient the Rockville company. The firing of Jeremy P. Coote, president of the company, which develops supply-chain software, takes effect today, the company reported in a filing with the Securities and Exchange Commission. Joe Cowan, a veteran supply-chain executive brought in as chief executive July 21, made the decision after assessing the company's needs, a spokeswoman said yesterday.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | August 18, 1999
Manugistics Group Inc. of Rockville announced yesterday that a class action shareholders suit filed against the company and two top officers last year has been dismissed.Shareholders filed three lawsuits against the company, which provides inventory management software, in June 1998 after its stock fell 66 percent, from $47.875 to $29.25, in one day. The plunge followed the company's warning that first-quarter earnings would fall short of analysts' projections.The suits, later consolidated in U.S. District Court in Baltimore, claimed that the company had made falsely optimistic statements about its finances that boosted its stock price.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | February 13, 1998
Manugistics Inc., a Rockville inventory management firm, has agreed to buy a Canadian software company in a cash-and-stock deal valued at $68 million.The purchase of closely held Promira Software Inc. of Ottawa is ** intended to broaden Manugistics' client base. Both Manugistics and Promira develop software to help companies manage their supply chains, but the two companies focus on somewhat different markets."This acquisition allows us to enter a new set of industries, primarily high-technology electronics and motor vehicles.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | June 20, 1998
After losing 66 percent of its stock value in a little over two months, Manugistics Group Inc. has been hit by at least three suits from shareholders who say the company deceived them about the firm's financial health.Two suits have been filed against Manugistics in federal court in Baltimore since June 12; the company, which provides inventory management software, is facing additional federal shareholder litigation in Minnesota.The complaints share the same allegation: That Manugistics made falsely optimistic statements about its finances, which artificially boosted the stock's value, enriched Manugistics' officers and lured investors to buy shares that were doomed to plummet.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | December 23, 2000
On a day that its shares rose nearly 25 percent, Manugistics Group Inc., a Rockville-based software and consulting business, said yesterday that it has closed on its previously announced agreement to acquire Talus Solutions Inc. Under terms of the settlement, Talus shareholders were issued 8.4 million shares of Manugistics stock valued at $358 million. Talus, based in Atlanta, is a maker of pricing and revenue optimization software. Manugistics' stock rallied sharply to close at $53.06, up $10.45 on the Nasdaq stock market, but analysts said the strong showing was not related to its acquisition of Talus.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | April 8, 1999
Manugistics Group Inc., the troubled Rockville inventory management firm, said late yesterday that it is posting larger-than-expected losses for its fiscal year and quarter that ended Feb. 28.Manugistics also said the Securities and Exchange Commission is reviewing the company's accounting and disclosure of its purchase of Canadian software company Promira Software Inc., a cash-and-stock acquisition announced in February 1998 and initially valued at $68...
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF Bloomberg News contributed to this article | May 22, 1998
Manugistics Group Inc., the fast-growing, Rockville-based maker of manufacturing software, saw its stock plunge 16 percent yesterday even before surprising analysts by saying the company expects a loss for its latest quarter.Executives expect that "revenues and earnings for the first quarter will not meet security analysts' expectations and will result in an operating loss," the company said in a prepared statement that was released after the stock market closed. Stock analysts had predicted earnings per share of between 11 cents and 14 cents for the quarter, so the warning represented a big change from what investors had assumed.
BUSINESS
June 2, 2004
LOCALLY Manugistics GroupShares of the Rockville maker of supply-chain software dropped 7.9 percent yesterday after the company said it would swing to an unexpected loss in its latest quarter as software sales fell short of its targets. Manugistics said it expects a net loss of $7 million to $8 million, or 9 cents to 10 cents a share, for the fiscal first quarter that ended Monday. That would miss analysts' estimates by more than a dime a share. NATIONALLY Boston Scientific The shares gained nearly 3 percent yesterday after the maker of stents for the treatment of heart problems, and other minimally invasive medical products, said it would acquire privately held Advanced Bionics Corp.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | March 28, 2003
Manugistics Group Inc., a Rockville-based software company, said yesterday that it cut about 90 jobs - or 7.4 percent of its work force - and more reductions are on the way. The announcement came as the company reported widening losses and falling revenue for its fiscal fourth quarter. During the quarter, Manugistics made the initial cuts, lowering the number of employees to 1,133. Another 80 to 130 jobs are expected to be lost over the next two quarters, the company said. The cuts are part of the company's effort to consolidate its U.S. operations to its Rockville headquarters, improve the way it uses office space and use product development offices in India, officials said.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | December 5, 2002
Manugistics Group Inc.'s shares plummeted 21 percent yesterday after the Rockville software company said it expects its third-quarter loss to be larger than previously forecast. Manugistics said it expects to report a net loss of 35 to 37 cents a share for the quarter that ended Nov. 30 and an adjusted loss of 18 cents per share to 20 cents per share. Analysts had predicted an adjusted loss of 14 cents a share. The company blamed the loss on slow sales as corporate customers have delayed major purchases of software applications.
BUSINESS
By Andrew Ratner and Andrew Ratner,SUN STAFF | October 26, 2002
At lunch with a client in New York yesterday, analyst Bert Hochfeld discussed whether it was a good time to buy shares of Manugistics Group Inc., a software company based in Rockville that has struggled for months. By the time they returned to the office, they were startled by the ticker: The stock had jumped 40 percent. It ended the day up 78 cents, or 33 percent, to close at $3.17, as the fourth-largest percentage gainer on the Nasdaq stock market. Manugistics develops software that helps companies better track their "supply chain" of products, from the suppliers that sell the raw materials to customers who buy the finished product.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | September 27, 2002
Manugistics Group Inc., a Rockville software company, reported lackluster results for the second quarter yesterday and said it plans to cut up to 12 percent of its work force -- as many as 166 jobs -- as it struggles to become profitable. The company also announced yesterday that its president, Richard F. Bergmann, who has been on a leave of absence since June, is leaving the company to pursue other opportunities. Bergmann will not be replaced. Instead, the company has reorganized into four divisions, and division presidents will report directly to the company's chairman and chief executive, Greg Owens, the company said.
BUSINESS
August 31, 2002
In the Region Warburg Pincus buys 6% stake in Manugistics Group Warburg Pincus LLC reported yesterday acquiring a 6 percent stake in Rockville-based Manugistics Group Inc., a business software maker whose shares have declined 81 percent this year. The New York-based private equity investment firm and affiliates bought about 4.2 million shares of Manugistics for $14.5 million, or an average of $3.48 a share, according to a shareholder filing with the Securities and Exchange Commission.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | September 25, 1998
In an effort to pull itself out of a financial slump, Manugistics Group Inc. said yesterday that it is restructuring its operations and laying off 80 workers.The Rockville company, which sells software that helps companies manage their inventories, said the moves will allow the firm to focus on key customers and cut costs.The company has 1,451 employees worldwide, 514 in Maryland. Company spokeswoman Charlotte Penner said about 50 of the layoffs will occur in Maryland."We need to adjust our expenses to be in line with our revenue stream," Penner said.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | December 23, 1998
Manugistics Group Inc., a Rockville-based inventory-management software company, said yesterday that it suffered another quarterly net loss and is seeking a merger partner.Manugistics has been in an extended slump, posting net losses for the first two quarters of its fiscal year as it struggled to meet the costs of acquiring other firms and reorganizing its sales force.The problems continued in Manugistics' third quarter, which ended Nov. 30. For the quarter, the company recorded a net loss of $10.4 million, or 39 cents per diluted share.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | June 28, 2002
Manugistics Group Inc., a Rockville-based producer of software, said yesterday that it will cut its work force by 12 percent after posting a wider-than-expected loss in its fiscal first quarter. About 184 of the company's 1,530 workers - of whom 1,200 are in the United States - will be cut from the payroll as part of a move that aligns the company with "current financial and market realities," said Gregory J. Owens, Manugistics' chairman and chief executive. Owens said he was disappointed with the quarter's numbers and blamed the current technology recession.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | June 14, 2002
Just as it opens a new headquarters in Rockville, Manugistics Group Inc. has told its employees who are to work there not to show up for a week because it can't afford to pay them. The software company, which expects to be fully moved into its new headquarters this week, informed U.S. employees not to come to work the week of July 1 as part of an unpaid leave program to save the company money, said Manugistics spokeswoman Didi Blackwood. Manugistics employs about 1,500, of whom 1,200 are in the United States.
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