Descartes Systems Group on Thursday posted a 15 percent year-on-year increase in third quarter net income and revenue.
The Ontario, Canada-based logistics software company had net income of $3.1 million, up from $2.7 million in the same quarter of 2011. Revenue rose to $32.7 million.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) increased 16 percent year-on-year to $9.9 million.
The company said it had $40.4 million in cash reserves (prior its the acquisition earlier this month of European compliance vendor Exentra), and has no debt.
Descartes said the third quarter marks 32 consecutive quarters of profitability, with eight years of record operating results.
American Shipper profiled Descartes in its May issue. – Eric Johnson
Descartes continues on profitable path
