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Descartes reports Q2 profit more than doubles as sales climb 12%

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Descartes Systems Group (TSE:DSG), a provider of logistics software and networks, rose in morning trades after reporting profit more than doubled in its fiscal second quarter as sales jumped 12 percent.

Shares were up 0.7 percent at C$15.56 at 9:49 a.m. in Toronto.

Net income rose to $3.6 million, or $0.05 per share, in the three months ended July 31, from $1.7 million, or $0.03 per share, a year earlier, the Waterloo, Ontario-based company said in a statement today. It was the company's 39th consecutive profitable quarter.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased to $12.7 million, from $10.8 million year over year.

Sales rose to $42.7 million in the second quarter, from $38.2 million a year earlier.

Analysts were looking for earnings of $0.06 and revenue of $42.9 million.

"Our focus on growing our global logistics network through disciplined operations and complementary acquisitions continues to deliver consistent, predictable financial results," Edward Ryan, chief executive officer of Descartes, said in the statement.

Descartes said that more than 173,000 parties are connected to its Global Logistics Network. They exchange more than 4.5 billion messages every year, it said.

 

 

Quick facts: Descartes Systems

Price: 66.56 CAD

TSX:DSG
Market: TSX
Market Cap: $5.6 billion
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