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Descartes Systems misses 1Q profit forecasts

WATERLOO, Ontario (AP) _ The Descartes Systems Group Inc. (DSGX) on Wednesday reported fiscal first-quarter net income of $6.9 million.

On a per-share basis, the Waterloo, Ontario-based company said it had profit of 9 cents.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The logistics provider posted revenue of $54.5 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $54.1 million.

Descartes Systems shares have climbed 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.88, an increase of 19 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSGX at https://www.zacks.com/ap/DSGX

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Keywords: Descartes Systems, Earnings Report