Despite “persistent global macro sluggishness” in demand, Manhattan Associates Inc. reported record revenue in the fourth quarter and full year ended Dec. 31, CEO Eddie Capel says.

“We exited 2016 with solid momentum, and we’re off to an early solid start in 2017, giving us cause for cautious optimism in these fairly turbulent times,” he said on a conference call with stock analysts late yesterday, according to a transcript from Seeking Alpha.

The company—whose suite of supply chain, warehouse management, order management and related technology is available on a single technology platform and can be accessed via the cloud—said full-year 2016 revenue increased 8.7% to $604.6 million from $556.4 million in 2015, though fourth-quarter revenue slowed to a growth rate of 4.4%, increasing to $147.6 million from $141.4 million.

Capel attributed much of the growth to new customer contracts across a mix of warehouse management and omnichannel initiatives in industrial, wholesale and retail markets both in the United States and international markets. In omnichannel initiatives, manufacturers, distributors and retailers may use Manhattan’s technology to take customer orders online, through call centers and sales reps, and in stores, then fulfill orders from the most appropriate distribution center. “We closed 18 $1 million-plus deals,” including five with new customers, Capel said.

Capel didn’t name the customers in those contracts, but the company said clients it acquired this year include automotive parts retailer Auto Zone, which sells to automotive professionals at AutoZonePro.com; China Logistics, a U.S. company that provides domestic and international shipping services in China; and Milan Supply Chain Solutions, a provider of freight transportation and warehousing services.

Manhattan also said it expanded contracts with several existing customers, including healthcare equipment and materials supplier Buffalo Hospital Supply, workforce apparel supplier Aramark, product label and packaging supplies company Avery Dennison, and fashion handbag and accessories company Coach Inc.

Atlanta-based Manhattan plans to develop new technology applications and expand its market reach this year, Capel said, noting that the company increased its R&D budget last year to nearly $55 million and finished the year with a team of 680 dedicated R&D associates.

Manhattan is listed as a vendor by Staples Inc., whose Staples Advantage B2B unit is No. 22 in the B2B E-Commerce 300.

For fourth quarter ended Dec. 31, Manhattan reported:

Software license revenue of $22.1 million, up 8.3% from $20.4 million a year earlier;

Consulting revenue increased 4.0% to $77.1 million from $74.1 million;

Services revenue increased 5.0% to $111.9 million from $106.6 million;

Operating income of $45.4 million, up 14.9% from $39.5 million.

For the full year, it reported:

Software license revenue of $85.0 million, up 8.1% from $78.6 million a year earlier;

Consulting revenue increased 9.0% to $333.4 million from $305.9 million;

Services revenue increased 9.0% to $467.3 million from $428.7 million;

Operating income of $194.3 million, up 20.4% from $161.4 million.

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