September 6, 2012 / 10:28 AM / 5 years ago

Descartes Systems' profit falls on higher acquisition costs

Sept 6 (Reuters) - Descartes Systems Group Inc, which develops software for companies to manage their inventories and truck fleets, reported a 4 percent fall in quarterly profit on acquisition related costs.

Second-quarter net income fell to $2.5 million from $2.6 million. Per-share earnings were flat at 4 cents.

The company, which acquired Infodis and Integrated Export Systems in June, said acquisition related charges rose to about $700,000 in the quarter from about $300,000 a year earlier.

Excluding one-time items, the company earned 15 cents per share in the quarter ended July. Analysts on average were expecting the Waterloo, Ontario-based company to earn 13 Canadian cents per share.

Revenue rose 6 percent to $30.5 million, but missed the C$31.08 million ($31.34 million) analysts were expecting, according to Thomson Reuters I/B/E/S.

Shares of the company, which has a market cap of about C$514.5 million, closed at C$8.22 on Wednesday on the Toronto Stock Exchange.

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