Descartes Systems Group (NASDAQ: DSGX) reported Q1 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $83.7 million versus the consensus estimate of $85.54 million.

Q1FY21 Financial Results
As described in more detail below, key financial highlights for Q1FY21 included:

• Revenues of $83.7 million, up 7% from $78.0 million in the first quarter of fiscal 2020 (Q1FY20) and down from $84.2 million in the previous quarter (Q4FY20);
• Revenues were comprised of services revenues of $74.1 million (89% of total revenues), professional services and other revenues of $7.8 million (9% of total revenues) and license revenues of $1.8 million (2% of total revenues). Services revenues were up 11% from $67.0 million in Q1FY20 and up 1% from $73.7 million in Q4FY20;
• Cash provided by operating activities of $27.5 million, up 18% from $23.4 million in Q1FY20 and up 4% from $26.4 million in Q4FY20;
• Income from operations of $15.7 million, up 32% from $11.9 million in Q1FY20 and up 15% from $13.6 million in Q4FY20;
• Net income of $11.0 million, up 51% from $7.3 million in Q1FY20 and down from $11.4 million in Q4FY20;
• Earnings per share on a diluted basis of $0.13, up 44% from $0.09 in Q1FY20 and consistent with $0.13 in Q4FY20; and
• Adjusted EBITDA of $33.0 million, up 15% from $28.7 million in Q1FY20 and up 2% from $32.2 million in Q4FY20. Adjusted EBITDA as a percentage of revenues was 39%, compared to 37% in Q1FY20 and 38% in Q4FY20.

“Customers depend on us to help them move goods and manage assets. This is even more important when complex supply chains meet rapid swings in global demand, regulation and restrictions,” said Edward J. Ryan, Descartes’ CEO. “We have some customers who are struggling to keep up with demand in their business, while others have seen sharp drops. Regardless of the market dynamics they face, our Global Logistics Network is proving essential to helping them connect and collaborate to better manage the lifecycle of shipments. Recognizing this, we’ve calibrated our business so we remain in a strong position to continue to deliver superior results for our customers and other stakeholders.”

For earnings history and earnings-related data on Descartes Systems Group (DSGX) click here.