Descartes Systems Q4 Profit Falls - Quick Facts

(RTTNews) - Descartes Systems Group Inc. (DSGX, DSG.TO) said that its fourth-quarter of fiscal 2014 net income sharply declined to $2.9 million, from $7.8 million in the fourth-quarter of fiscal 2013. Quarterly earnings per share was $0.04, down from $0.12 last year.

The latest-quarter's net income was negatively impacted by $3.3 million in Chairman and CEO Retirement Charges and positively impacted by the release of $2.8 million in valuation allowance for deferred tax assets ($5.3 million in the prior year quarter.)

Adjusted EBITDA per share was $0.18, up 13% from $0.16 last year.

"As we look ahead to fiscal 2015, we remain optimistic about Descartes' future as we continue to see strong demand for our SaaS-based solutions that drive the largest collaborative logistics community in the world," said Edward Ryan, Descartes' CEO.

Revenues were $40.3 million, up 19% from $33.8 million in the fourth quarter of fiscal 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share and revenues of $39.39 million for the quarter. Analysts' estimates typically exclude special items.