Manhattan Associates raises expectations for year

Atlanta supply chain optimization company Manhattan Associates saw its profits increase by 59 percent in the first quarter of the year, and raised its expectations for the remainder of 2012.

Licensing revenue at the company doubled, to $15.6 million in the first three months of 2012. Manhattan Associates also added or expanded contracts with a slew of companies, including J.Crew, Nike and PetSmart.

The company expects to increase its revenue between 11 and 14 percent for the year; it had previously said it expected between 10 and 12 percent growth.