Descartes net income down after tax expenses
Canadian logistics software company Descartes Systems Group Inc. today reported net income of $1.4 million for its fiscal second quarter ended July 31, down from $1.7 million in the corresponding period a year ago.
The company, which reports its financial results in U.S. dollars, recorded $500,000 deferred income tax expenses in both the first and second quarters of fiscal 2009. No comparable deferred income tax expense was taken in fiscal 2008.
After six months, the Waterloo, Ontario-based firm posted net income of $2.4 million, down from $2.8 million, while revenue was up 21 percent at $33.4 million.