Software provider Descartes' revenue climbs 20% in 2Q
By Furniture Today Staff -- Furniture Today, September 14, 2008
WATERLOO, Ontario — Descartes Systems, a provider of software as a service, said it ended its fiscal second quarter July 31 with revenues of $17.1 million, up 20% from $14.3 million in the comparable quarter a year earlier.
Net income was $1.4 million, compared with the previous year's quarter of $1.7 million. The company had a $500,000 deferred income tax expense in the current year's quarter, and no comparable tax expense in the previous fiscal year because of existing tax losses.
Earnings per share were 3 cents, the same as the year-earlier quarter.
Descartes also announced that its CEO, Arthur Mesher, had been awarded the 2008 Distinguished Service Award by the Council of Supply Chain Management Professionals. The organization presents the annual award to an individual who has made significant contributions to the supply chain and logistics management.
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