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Descartes Systems misses 3Q profit forecasts

WATERLOO, Ontario (AP) _ The Descartes Systems Group Inc. (DSGX) on Wednesday reported fiscal third-quarter earnings of $6.2 million.

On a per-share basis, the Waterloo, Ontario-based company said it had net income of 8 cents.

The results missed 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 $62 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $59.4 million.

Descartes Systems shares have increased 39 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.85, a climb 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