December 1, 2011 / 11:39 AM / in 6 years

UPDATE 1-Descartes Systems Q3 profit beats

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Dec 1 (Reuters) - Descartes Systems Group Inc , a provider of logistics-management software and services, posted a third-quarter profit above market estimates on strong growth in services.

Net income for the August-October quarter was $2.7 million, or 4 cents a share, compared with $1.6 million, or 3 cents a share, a year ago.

Excluding items, the company earned 13 cents a share.

Revenue rose 10 percent to $28.5 million, slightly below analysts’ estimates.

Analysts, on average, were expecting the company to earn 11 cents a share on a revenue of $29 million, according to Thomson Reuters I/B/E/S.

Services, which contributed 92 percent of the company’s overall revenue, increased their share to $26.2 million from $24.7 million last year.

The Waterloo, Ontario-based company’s shares closed at C$7.07 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Sreejiraj Eluvangal)

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