William B. Cassidy, Senior Editor | May 31, 2012 12:39PM EDT
Logistics software supplier Descartes increased net profit 18 percent to $2.6 million as revenue increased 10 percent to $29.9 million in the quarter ending April 30.
The company’s service revenues rose 7 percent in the first quarter of Descartes’ fiscal year 2013 to $27.7 million, the Waterloo, Ontario-based company said.
Descartes’ rising sales underscore demand for logistics technology among carriers and shippers to improve fleet utilization and reduce supply chain costs.
The company offers routing, telematics, transportationmanagement, customs and regulatory compliance services and a global document exchange network.
Since March, Descartes added Leen Baker, Ferguson Enterprises, John Lewis Partnership, Manuport and customs broker F.H. Kaysing as customers.
CVS, the largest U.S. pharmacy retailer, uses Descartes visibility and event management software to manage inventory and distribution to 2,200 U.S. stores.
Brinks, the armored car operator, will use Descartes integrated routing and telematics system to manage its fleet, the technology provider said Thursday.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc
