Descartes profit flat
Canadian logistics software company Descartes Systems Group Inc. has reported a net income of $1.1 million for its first quarter of fiscal year 2009 ended April 30, the same as the year previously.
The Waterloo, Ontario-based firm, which reports its financial results in U.S. dollars, posted quarterly revenue of $16.3 million, up 23 percent from $13.3 million.
The total revenue figure comprised of $14.9 million in services revenues and $1.4 million in license revenues. Geographically, $9.4 million of revenues (58 percent) were generated in the Americas, excluding Canada; $4.2 million (26 percent) in Europe, Middle East and Africa (EMEA); $2.3 million (14 percent) in Canada; and $0.4 million (2 percent) in the Asia Pacific region.
'Our results this quarter are consistent with how our business is calibrated. With successful execution on revenue growth opportunities and prudent expense management as we integrate acquisitions, we have driven superior operating performance,' said Stephanie Ratza, Descartes' chief financial officer. 'We believe that we have an excellent platform to continue to execute on our consolidation strategy. We have a solid balance sheet with a healthy cash position, and have consistently generated cash from operations.'
Arthur Mesher, chief executive officer, said: 'Factors such as increasing fuel prices, increased compliance regulations and global sourcing costs are making efficiency critical for the success of logistics-intensive organizations. Our on-demand, software-as-a-service, pay-for-performance business model for logistics technology presents an even more relevant and compelling solution in these market conditions.'
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