U.S. Markets open in 1 hr 32 mins

Descartes Systems misses 2Q profit forecasts

WATERLOO, Ontario (AP) _ The Descartes Systems Group Inc. (DSGX) on Wednesday reported fiscal second-quarter profit of $7.2 million.

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

The results did not meet 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 $57.3 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $55.7 million.

Descartes Systems shares have increased 33 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.40, an increase of 33 percent in the last 12 months.

_____

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

_____

Keywords: Descartes Systems, Earnings Report