Manhattan Associates, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported consolidated total revenue was $147.6 million compared to $141.4 million a year ago. GAAP operating income was $45.4 million compared to $39.5 million a year ago. Adjusted operating income, a non-GAAP measure, was $49.7 million compared to $43.1 million a year ago. Cash flow from operations was $37.8 million in compared to $36.1 million a year ago. GAAP diluted earnings per share was $0.42 compared to $0.36 in a year ago. Adjusted diluted earnings per share, a non-GAAP measure, was $0.46 compared to $0.39 a year ago. Income before income taxes was $45.772 million against $39.698 million a year ago. Net income was $29.917 million against $26.370 million a year ago. Adjusted net income was $32.747 million against $28.664 million a year ago. Capital expenditures were $1.378 million against $1.873 million a year ago.

For the year, the company reported GAAP diluted earnings per share for the twelve months ended December 31, 2016 was a record $1.72, compared to $1.40 for the twelve months ended December 31, 2015. Adjusted diluted earnings per share, a non-GAAP measure, was a record $1.87 compared to $1.52 for the twelve months ended December 31, 2015. Consolidated revenue was a record $604.6 million, compared to $556.4 million for the twelve months ended December 31, 2015. GAAP operating income was a record $194.3 million compared to $161.4 million for the twelve months ended December 31, 2015. Adjusted operating income, a non-GAAP measure, was a record $210.7 million compared to $176.4 million for the twelve months ended December 31, 2015. Cash flow from operations was a record $139.3 million compared to $120.2 million in the twelve months ended December 31, 2015. Income before income taxes was $196.107 million against $162.841 million a year ago. Net income was $124.234 million against $103.475 million a year ago. Adjusted net income was $134.653 million against $112.890 million a year ago. Purchases of property and equipment were $6.843 million against $11.492 million a year ago.

For the year 2017, the company expects total revenue to be in the range of $622 million to $632 million, GAAP EPS to be $1.74 to $1.78 and adjusted EPS to be $1.89 to $1.93. The company expects CapEx in the range of $9 million to $10 million. Adjusted effective tax rate, estimate at this stage is 36.5%, subject to the mix of U.S. to foreign taxable income and U.S. federal state and foreign tax legislation changes. New accounting rules related to taxes associated with vesting restricted stock will lower the 2017 estimated GAAP effective tax rate to 35.6%.