Descartes Systems Group (DSGX) Misses Q4 EPS by 1c, Slight Miss on Revenues
Descartes Systems Group (NASDAQ: DSGX) reported Q4 EPS of $0.10, $0.01 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $71 million versus the consensus estimate of $71.22 million.
- Revenues of $71.0 million, up 12% from $63.6 million in the fourth quarter of fiscal 2019 (Q4FY18) and up 1% from $70.0 million in the previous quarter (Q3FY19);
- Revenues were comprised of services revenues of $62.9 million (89% of total revenues), professional services and other revenues of $7.0 million (10% of total revenues) and license revenues of $1.1 million (1% of total revenues). Services revenues were up 14% from $55.0 million in Q4FY18 and up 3% from $61.1 million in Q3FY19;
- Cash provided by operating activities of $21.8 million, up 11% from $19.6 million in Q4FY18 and up 14% from $19.2 million in Q3FY19;
- Income from operations of $10.6 million, up 19% from $8.9 million in Q4FY18 and compared to $10.8 million in Q3FY19;
- Net income of $7.9 million, up 18% from $6.7 million in Q4FY18 and compared to $7.9 million in Q3FY19. Net income as a percentage of revenues was 11%, compared to 11% in Q4FY18 and 11% in Q3FY19;
- Earnings per share on a diluted basis of $0.10, up 11% from $0.09 in Q4FY18 and compared to $0.10 in Q3FY19; and
- Adjusted EBITDA of $25.0 million, up 17% from $21.4 million in Q4FY18 and up 4% from $24.0 million in Q3FY19. Adjusted EBITDA as a percentage of revenues was 35%, compared to 34% in Q4FY18 and 34% in Q3FY19.
“The Global Logistics Network continues to grow with new customers joining the community and existing customers increasing their use of our expanding solution set,” said Edward J. Ryan, Descartes’ CEO. “We believe our focus on providing one place for shippers, carriers, logistics intermediaries and government agencies to collaborate and manage the complete lifecycle of shipments is contributing to this growth. We’re excited about the numerous opportunities we have to expand the value we bring to the global logistics community by continuing to make focused investments in organic and inorganic growth.”
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