Descartes Systems’ Net Income Rises

Descartes Systems Group said its first-quarter net income for its 2014 fiscal year rose 10%.

Net income for its fiscal year ended April 30 increased to $2.8 million, or 4 cents per share, from $2.6 million, or 4 cents per share, in the prior reporting period.

Revenue increased to $34 million from $29.9 million. The Waterloo, Ontario-based company which offers routing and telematics services, reports results in U.S. dollars.

“We continue to design innovative products and integrate acquired businesses so that our customers have solutions that don’t cost, but pay,” CEO Art Mesher said in a statement. 

Last month, Descartes bought KSD Software Norway AS for $13 million to expand in Scandinavia. The Norwegian company’s annual revenue was about $10 million.