(Reuters) - Business software provider Descartes Systems Group Inc posted an 18 percent rise in quarterly profit, helped by an increase in its services revenue.
First-quarter net income rose to $2.6 million, or 4 cents per share, from $2.2 million, or 3 cents per share, a year earlier.
Revenue for the logistics and management software and services provider rose 10 percent to $29.9 million, while services revenue increased 7 percent to $27.7 million.
The company’s shares, which have gained 16 percent so far in 2012, closed at C$8.39 on Wednesday on the Toronto Stock Exchange.
Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel