Canada's Descartes reports 1Q revenue jump of 23%
By Furniture Today Staff -- Furniture Today, June 8, 2008
WATERLOO, Ontario — Canadian logistics technology provider Descartes said its revenues were up 23% from a year earlier in the fiscal first quarter ended April 30, to $16.3 million.
The company, which reports in U.S. dollars, said its net income was $1.1 million, about even with a year earlier, although pretax income rose 45% to $1.6 million. Descartes recorded $500,000 in deferred income tax expense in the latest quarter.
A gross margin of 65% of revenues was unchanged from the quarter a year earlier, and up slightly from 64% in the fourth quarter of last year.
Descartes is a global on-demand logistics software provider. It recently purchased U.S. software provider Routeview Technology.
“Factors such as increasing fuel prices, increased compliance regulations and global sourcing costs are making efficiency critical for the success of logistics-intensive organizations,” Descartes CEO Andrew Mesher said in announcing the quarterly results. “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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