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by David R. Brousell, MA Editorial Staff
Posted on Wednesday, May 24, 2006 5:02:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox   Beginning its second year with a new business model, Descartes Systems Group, Inc., a developer of logistics software, said that fiscal 2007 first-quarter earnings jumped a whopping 140% on a 3% gain in revenue. For the first quarter ended April 30, Descartes reported net income of $1.2 million, compared with $500,000 in the comparable period last year. Revenues reached $11.7 million in the period, compared with $11.3 million in the like quarter of fiscal 2006. Earnings before interest and taxes (EBITDA) were $2.4 million, up 60% from the $1.5 million recorded in last year's first quarter. "This is a very successful start to 2007," said Arthur Mesher, Descartes' chief executive, during a conference call today with financial analysts. "I'm very confident about the business as we go into the summer." [Click to continue]  |
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