|
by Beth Stackpole, Contributing Editor
Posted on Friday, September 09, 2005 3:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Provider of delivery management software reports 80% earnings increase, improved margins in recently completed second quarter. |
Driven by a radical shift in business philosophy, Descartes Systems Group Inc. hit another milestone on its road to recovery this week, announcing strong results for its fiscal second quarter 2006, including more robust margins and an 80% hike in earnings over the previous quarter. The Waterloo, Ontario provider of on-demand delivery management solutions for transportation, logistics, manufacturing, and retail and distribution companies, earned $900,000 in the period ended July 31, nearly doubling the $500,000 netted in the previous quarter and significantly better than the $22.7 million loss posted in the like period last year. Sales for the quarter hit $11.4 million, up slightly from the $11.3 million reported in prior quarter and the $11.1 million inked in the corresponding period last year. Descartes also made critical improvements to its bottom line. For the quarter, the company achieved gross margins of 60%, up from 57% posted in the previous period and higher than the 47% reached in the year-ago period. The company also reported positive EBITA for the current quarter of $1.5 million, consistent with the positive EBITA of $1.5 million for the previous quarter and a significant change from an EBITDA loss of $20.6 million in the like period last year, which included a $13.2 million charge for restructuring costs and asset impairment. [Click to continue] |
|
|
|
|