Descartes Systems Group has released its latest quarterly report stating it reached record revenue of $30.5 million.
This morning, Descartes announced financial results for its fiscal 2013 second quarter, ended July 31. The company’s quarterly revenues rose 6 percent from the year before, $28.8 million to $30.5 million, and also bested its prior quarter revenue by $600,000. For service revenues, the company saw a 10 percent year-over-year gain to reach $29.3 million.
However, the company noted its net income for the quarter dropped to $2.5 million from $2.6 million a year ago.
When looking at the first half of the company’s fiscal 2013 year so far, Descartes has seen total revenue reach $60.4 million, an 8 percent increase from the same period the year before. Its 2013 service revenues also rose 8 percent to reach $57 million during the period. The company’s net income reached $5.1 million.
As part of its expansion strategy, the company in the first half of the fiscal year acquired Infodis and Integrated Export Systems (IES). Infodis is a Netherlands-based provider of software-as-a-service (SaaS) transportation management solutions, while IES is a provider of customs broker and forwarder enterprise systems.
Descartes also recently implemented its cloud-based transportation management service for the Canadian Blood Services charity, streamlined shipment management for Unigroup on its IES Forwarder Enterprise software, and improved efficiency for the PNE Corp. with its cloud-based planning and optimization service. - Geoff Whiting