June 2, 2010 / 11:38 AM / 7 years ago

UPDATE 1-Descartes Systems Q1 profit slumps on higher expenses

* Q1 EPS $0.00 vs $0.04 last year

* Revenue up 22 pct to $21.3 mln

* Expenses rise 24 pct to $13.1 mln

June 2 (Reuters) - Logistics and management software and services provider Descartes Systems Group Inc (DSG.TO) (DSGX.O) posted a 91 percent fall in quarterly profit, hurt in part by higher expenses.

For the quarter ended April 30, the company posted net income of $192,000, or breakeven a share, compared with net income of $2.2 million, or 4 cents a share, last year.

Excluding items, the company posted net income of $5.3 million.

Revenue for the quarter rose 22 percent to $21.3 million.

Analysts on average were expecting earnings of 8 cents a share, before items, on revenue of $21.3 million, according to Thomson Reuters I/B/E/S.

Expenses rose 24 percent to $13.1 million.

Shares of the company closed at C$5.97 Tuesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Anne Pallivathuckal)

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