Descartes gives 1Q results

Descartes Systems Group has announced an increase of 23% in revenue and 45% in income for its fiscal 2009 first quarter, ended April 30, 2008, compared to its fiscal 2008 first quarter.

Descartes Systems Group has announced an increase of 23% in revenue and 45% in income for its fiscal 2009 first quarter, ended April 30, 2008, compared to its fiscal 2008 first quarter.

The company reported revenue of $16.3 million for the quarter, up from $13.3 million in 1Q 2008, and income before taxes of $1.6 million, up from $1.1 million. Diluted earnings per share remained constant at $0.02.

“Our results this quarter are consistent with how our business is calibrated,” said Stephanie Ratza, Descartes CFO. “With successful execution on revenue growth opportunities and prudent expense management as we integrate acquisitions, we have driven superior operating performance. 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.”

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