October 21, 2008 / 10:29 PM / in 9 years

UPDATE 1-Manhattan Associates hit by global economic slump

* Cuts 150 positions worldwide

* Q3 EPS 34 cents vs est 39 cents

* Revenue falls 2 pct to $82.7 mln vs est $92.7 mln

* Sees Q4 EPS 24 cents to 34 cents vs est 43 cents

* Shares down 5 pct (Recasts; adds details, share movement)

Oct 21 (Reuters) - Manhattan Associates Inc (MANH.O) cut about 150 positions, or 6.5 percent of total positions at the supply chain management software developer, mainly in the United States, and forecast fourth-quarter earnings below market expectations amid challenging economic conditions.

The company, which also posted lower-than-expected third-quarter results on Tuesday, expects the market pressures to continue through the fourth quarter.

    “We saw a significant number of software license deals we expected to close in the third quarter slip to the fourth quarter, and possibly later,” Chief Executive Pete Sinisgalli said in a statement.

    Shares of the company fell to $17.20 in trading after the bell. They had company closed at $18.07 Tuesday on Nasdaq.

    For more details on the company’s third-quarter results and fourth-quarter outlook, please double click on [ID:nWNAB9446] . (Reporting by Bijoy Koyitty in Bangalore; Editing by Pratish Narayanan)

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