USD 31.3 million net income for Descartes
The Descartes Systems Group has announced its financial results for the full fiscal year ended January 31, 2019. Revenues were up 16% to USD 275.2 million, compared to USD 237.4 million in the previous fiscal year.
Income from operations amounted to USD 41.4 million, up 15% from USD 35.9 million in FY18, while net income was USD 31.3 million, up 16% from USD 26.9 million in FY18. Net income as a percentage of revenues was 11%, the same as in FY18.
“The global logistics network continues to grow with new customers joining and existing customers increasing their use of our expanding portfolio,” said Edward J. Ryan, Descartes’ CEO. “Our focus on providing one place for shippers, carriers, logistics intermediaries and government agencies to collaborate and manage the complete lifecycle of shipments contributes to this growth." (mw)