Manugistics Sales Suffer In Turbulent QuarterManugistics Sales Suffer In Turbulent Quarter
Manugistics Group Inc. took a pounding in its third quarter, posting a net loss of $7.6 million.
December 22, 2001
Supply-chain-management vendor Manugistics Group Inc. (MANU--Nasdaq) took a pounding in its third quarter, posting a net loss of $7.6 million, compared with adjusted net income of $3.7 million for the same quarter a year ago.
Chairman and CEO Greg Owens blames the economy and the Sept. 11 attacks for faltering sales in the quarter, which ended Nov. 30. Owens is trying to stay optimistic, saying the company has signed several deals in the current quarter worth more than $1 million each. For the third quarter, revenue decreased to $68.7 million from $70.0 million a year ago, and software revenue declined to $22.1 million from $35.8 million.
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