Descartes reports another increase in profits

The global trade and transportation software provider posted a net income of $5.1 million for the second quarter of fiscal 2016, which ended July 31, a year-over-year increase of 42 percent.    Descartes Systems Group Inc., a global trade and transportation software provider, posted a net income of $5.1 million for the second quarter of fiscal 2016, which ended July 31, a year-over-year increase of 42 percent.
   The company reported earnings per share on a diluted basis of $0.07 for the quarter, in comparison to $0.05 per share during the second quarter of fiscal 2015.
   Revenues for the quarter jumped 6 percent from the second quarter of fiscal 2015 to $45.2 million. Descartes reported its services revenues, which comprised 95 percent of the company’s total revenues for the quarter, reached $42.8 million for the quarter, also a year-over-year jump of 6 percent.
   During the second quarter of fiscal 2016, Descartes acquired all outstanding shares of MK Data July 20, a provider in the denied party screening solutions market, for which it paid $80.2 million in cash.
   In addition, the global trade and transportation software provider also acquired all outstanding shares of BearWare July 22 for $11.2 million in cash. BearWare is a provider of mobile solutions that connect logistics companies with retailers.