May 31, 2012 / 10:31 AM / in 6 years

UPDATE 1-Descartes profit up on services growth

May 31 (Reuters) - Business software provider Descartes Systems Group Inc posted an 18 percent rise in quarterly profit, helped by an increase in its services revenue.

First-quarter net income rose to $2.6 million, or 4 cents per share, from $2.2 million, or 3 cents per share, a year earlier.

Revenue for the logistics and management software and services provider rose 10 percent to $29.9 million, while services revenue increased 7 percent to $27.7 million.

The company’s shares, which have gained 16 percent so far in 2012, closed at C$8.39 on Wednesday on the Toronto Stock Exchange.

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