September 9, 2010 / 11:07 AM / 7 years ago

UPDATE 1-Canada's Descartes posts higher Q2 results

* Q2 EPS $0.03 vs $0.02 last year

* Total revenue rises 35 pct

* Services revenue jumps 40 pct

Sept 9 (Reuters) - Logistics and management software and services provider Descartes Systems Group Inc (DSG.TO) (DSGX.O) posted higher second-quarter results, helped by increased revenue at its key services segment.

Net income rose to $2 million or 3 cents a share, up from $800,000 or 2 cents a share in the year-ago quarter.

Total revenue rose to $25.2 million, fueled in part by the company’s recently completed acquisitions. Descartes said service revenue, which accounts for 95 percent of total revenue, rose 40 percent to $23.9 million, from last year.

    On June 16, Descartes acquired privately held Belgian-based Routing International nv, a developer and distributor of optimized route planning solutions for about 3.3 million euros ($4.2 million).

    Analysts on average forecast the company to earn 9 cents a share on revenue of $25.7 million, according to Thomson Reuters I/B/E/S.

    Shares of the Waterloo, Ontario-based company, which have gained 5 percent in value since the completion of Routing International acquisition, closed at C$6.50 Wednesday on the Toronto Stock Exchange. ($1=.7859 EURO) (Reporting by Isheeta Sanghi in Bangalore; Editing by Vyas Mohan)

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