Descartes posts 36% increase in fiscal year profits

The global trade and transportation software provider posted a net income of $20.6 million on record revenues of $185 million for the fiscal year 2016, which ended Jan. 31, 2015, year-over-year increases of 36 percent and 8 percent, respectively.    The global trade and transportation software provider Descartes Systems Group, Inc. posted a net income of $20.6 million for the fiscal year 2016, which ended Jan. 31, 2015, a 36 percent year-over-year increase, according to the company’s most recent financial statements.
   Revenues for the fiscal year hit a record high of $185 million, an 8 percent bump from the previous year.
   The company reported earnings per share on a diluted basis of $0.27 per share for the fiscal year, in comparison to $0.21 per share for the 2015 fiscal year.
   For the fourth quarter alone, Descartes’ net income totaled $5.4 million, while the company’s revenues reached $48 million, year-over-year increases of 50 percent and 8 percent, respectively.
   Earnings per share on a diluted basis stood at $0.07 per share for the quarter, compared to $0.05 per share for the corresponding quarter a year prior.
   On Nov. 25, 2015, Descartes acquired Oz Development, a provider of application integration solutions that help small-to-midsized businesses automate a number of their logistics and supply chain processes, for $29.5 million, net of cash acquired, which was funded with cash on hand.
   In July 2015, Descartes also acquired all outstanding shares of MK Data, a provider in the denied party screening solutions market, as well as all outstanding shares of BearWare, a provider of mobile solutions that connect logistics companies with retailers.