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Supply chain software provider Manhattan Associates beats estimates, though revenue and earnings decline

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Most of the key financial benchmarks in the second quarter report of Manhattan Associates were down from a year ago, but the reported numbers beat key projections.

The supply chain software provider’s non-GAAP earnings per share (EPS) of $0.40 was $0.06 more than consensus forecasts, according to SeekingAlpha. The GAAP EPS of $0.30 per share beat consensus by $0.04 per share.

Revenue of $135.6 million, though down 12.1%, beat forecasts by almost $8 million.

In the company’s prepared statement accompanying the earnings release, president and CEO Eddie Capel talked about the landscape the company was facing. “There is no doubt that near-term impacts to global economic activity continue to manifest themselves due to the COVID-19 pandemic,” he said. “Specifically, we have seen sales cycles lengthen as customers and prospects simultaneously contend with the pandemic while evaluating our solutions. Additionally, we have seen delays in services-related project work, leading to a year-over-year decline in services revenue.”

That could be seen in the company’s days sales outstanding figure, which was 73 days at the end of the quarter. It was 61 days a year earlier. And service revenue took a hit, dropping to $71.8 million from $94 million a year ago.

But the company is confident enough in the future that it has increased its revenue and earnings guidance. Many companies suspended those forecasts when the pandemic hit; Manhattan Associates did not. 

“Our growing cloud business continues to outperform, with continued strength in both revenue and bookings,” Capel said in citing the reason for the higher guidance. 

Most of the numbers were higher. The new guidance on annual revenue is $554 million to $570 million. It was $541 million to $565 million, with that forecast released alongside the company’s first quarter earnings. But before that number was put in place as revenue guidance, it had been $644 to $656 million. 

The new forecast on GAAP earnings per share is $1.17 to $1.23. At the end of the first quarter, it was $1.16 to $1.24. At the start of the year, that figure was $1.12 to $1.19.

However, the new forecast operating margin under GAAP principles is down to 17.3% to 17.7%. It had been 17.5% to 17.9%. 

The company’s revenue numbers saw a continuing shift to cloud services. Cloud revenue more than doubled to $18.5 million in the second quarter from $9 million a year ago. License revenue was down to $5.7 million from $11.7 million. 

Although the earnings numbers may have beaten estimates, they were still down from a year ago. GAAP diluted earnings per share fell to $0.30 from $0.32 a year ago. Adjusted diluted EPS, which is a non-GAAP measure, also declined $0.02, to $0.30 per share from $0.32 per share.

Adjusted GAAP operating income declined to $26.7 million from $27.6 million. 

Manhattan Associates appears to be in a strong cash position. Its second quarter cash flow from operations was $48.8 million, up from $37.2 million in the second quarter of 2019. Its cash and investments on hand were $123.6 million at the end of the quarter, up from $75.3 million a year ago.

Source: https://www.freightwaves.com/news/supply-chain-software-provider-manhattan-associates-beats-estimates-though-revenue-and-earnings-decline

Blockchain

VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium Traceability

VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium Traceability

VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium TraceabilityNorwegian firm, Hydro, has adopted the “Tag.Trace.Trust.” traceability blockchain solution co-developed by VeChain (VET) and DNV. Hydro aims to use the distributed ledger technology (DLT) solution to prove to its clients that its aluminum is produced in accordance with sustainable standards, according to a LedgerInsights report on March 3, 2021. Hydro Taps VeChain (VET) DLT

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VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium Traceability

VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium TraceabilityNorwegian firm, Hydro, has adopted the “Tag.Trace.Trust.” traceability blockchain solution co-developed by VeChain (VET) and DNV. Hydro aims to use the distributed ledger technology (DLT) solution to prove to its clients that its aluminum is produced in accordance with sustainable standards, according to a LedgerInsights report on March 3, 2021. Hydro Taps VeChain (VET) DLT

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Trade with the Official CFD Partners of AC Milan
Source: https://btcmanager.com/vechain-vet-dnv-blockchain-aluminium-traceability/

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Supply Chain

Hannah Testani Named as CEO at Intelligent Audit and Adds to Executive Team

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Intelligent Audit's Board of Directors has appointed Hannah Testani as the company’s new CEO along with new appointments at the executive level. Checkout PrimeXBT
Source: https://www.supplychain247.comhttps://www.supplychain247.com/article/hannah_testani_named_as_ceo_at_intelligent_audit_and_adds_to_executive_team

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Supply Chain

How New Regulations from the PACT Act Affects the Shipping of Vaping Products

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ProShip takes a closer look at the new regulations from the PACT Act and how they affect the shipping of vaping products. Checkout PrimeXBT
Source: https://www.supplychain247.comhttps://www.supplychain247.com/article/how_new_regulations_from_pact_act_affects_the_shipping_of_vaping_products

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Supply Chain

History and Facts about Argon

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What are the noble gases? The noble gas group consists of the elements helium (He), neon (Ne), argon, (Ar), krypton (Kr), xenon, radon (Rn), and organesson (Og). It is the 18th (7A) group in the periodic table of elements. They are known to be odourless, tasteless, colourless, and non-flammable under standard conditions. They are called noble gases because they are already stable, unlike the other elements in the periodic table. They do not create bonds with other atoms to produce new chemical compounds.

Before, these gases are called rare or inert gases. However, it is also found that some of these elements are very abundant in our universe. Because calling them “rare” or “inert” was misleading, the word “noble” was introduced.

Noble gas: Argon and its history

Argon has an atomic number of 18 and an atomic weight of 39.948 atomic mass unit. About 0.93% of the Earth’s atmosphere is occupied by argon. It is a very abundant gas in the air, next to nitrogen and oxygen. From the production of oxygen and nitrogen, argon gas is produced as a by-product. You can also find small traces of argon in Earth’s crust and ocean waters. Argon is the most abundant and cheapest noble gas. Stable isotopes of argon are argon-36, and argon-38 and argon-40. Argon-36 is created by stars and the most common in the universe while over 99% of argon that occurs naturally on Earth is the argon-40.

Lord Rayleigh, an English chemist, and Sir William Ramsay, a Scottish chemist, discovered the argon gas in 1894. It is derived from the Greek word “argos”, meaning idle. However, before argon was fully discovered, Henry Cavendish, an English chemist and physicist, found a chemically less active substance than nitrogen, which is about 1% proportion of air. Then, Lord Rayleigh tried to isolate nitrogen from the air after a century, but it was not pure nitrogen that he isolated as he thought. He discovered that the element has a higher density than nitrogen. Then finally, in 1894, Sir William Ramsay started working with Lord Rayleigh. They collaborated to isolate this gas. After a series of trials and experiments, they proved that they had discovered a new element: argon.

The chemical reactivity of argon

Fluorine is also an element in the periodic table, considered the most reactive element. A French chemist, Henri Moissan, discovered fluorine in 1886. He was also the one who attempted to produce a reaction between argon and fluorine, but he failed.

According to Niels Bohr in 1913, electrons’ distribution in an atom is arranged in successive shells. In the electron configuration, the ideal number of electrons in the atom’s outermost shell must be eight, hence the octet rule. It is the reason why most atoms need to bond with other atoms, except for noble gases. These gases already have eight electrons in their valence or outer shell, making them the most stable gases.

Although argon is considered inert and already stable, it is also discovered that it can form at least one compound: argon fluorohydride (HArF). Leonid Khriachtchev, Mika Pettersson, Nino Runeberg, Jan Lundell, and Markku Räsänen reported this discovery in August 2000. The said compound is only stable at very low temperatures. If the temperature increases, argon fluorohydride tends to decompose. For this reason, the compound has no use in basic scientific research.

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