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Descartes Systems meets 3Q net income expectations, misses revenue forecasts

WATERLOO, Ont. – WATERLOO, Ontario (AP) _ The Descartes Systems Group Inc. (DSGX) on Thursday reported fiscal third-quarter net income of $5.2 million.

On a per-share basis, the Waterloo, Ontario-based company said it had net income of 7 cents.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 7 cents per share.

The logistics provider posted revenue of $47.4 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $47.9 million.

Descartes Systems shares have climbed 31 per cent since the beginning of the year. The stock has risen 25 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSGX at http://www.zacks.com/ap/DSGX

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Keywords: Descartes Systems, Earnings Report