Descartes Systems Group Reports Growth in Income, Revenue
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The Descartes Systems Group Inc., a Canadian logistics company, reported net income of C$8.6 million for the second quarter of its 2020 fiscal year, up 1% from $8.5 million in the same period last year.
Earnings per share were 10 cents, down 9% from 11 cents in the same period last year, the company reported in a Sept. 4 news release.
Revenue was $80.5 million, up 20% from $67.1 million in its second fiscal quarter of 2019.
Ryan
Edward Ryan, CEO of the Waterloo, Ontario-based company, said the international logistics firm faced a challenging world economy in the period ended July 31.
“Our customers are facing a more dynamic business environment than ever, with global trade regulations changing on a daily basis and economic conditions in constant flux,” Ryan said. “This creates opportunities for companies that can react quickly with timely, reliable information and challenges for those that cannot.”
He said continued investments in Descartes’ global logistics network helped customers navigate the trade-and-shipping environment. The knowledge led to repeat business, Ryan said.
Founded in 1981, the company has 1,300 employees and 10,000 customers in more than 160 countries, according to the Descartes website.
