Descartes records lower profit
Logistics network Descartes Systems Group said it had profit of $200,000 in its first quarter ending April 30, compared to $2.2 million in first quarter of the prior fiscal year.
Revenue was $21.3 million for the quarter, up 22 percent from $17.4 million in year-earlier period.
During the quarter Descartes acquired two companies:
' Porthus/Zemblaz, a Belgian-based provider of global trade management solutions.
' Imanet, a provider of technology to allow customs brokers, freight forwarders, exporters and self-clearing importers to communicate with the Canada Border Services Agency.
'With our recently completed acquisitions, we have an enhanced operating scale that allows us to accelerate the results that we deliver to our customers,' said Art Mesher, Descartes' chief executive officer.