UPDATE: Descartes Q1 Net Profit Rises 18%

The Descartes Systems Group Inc

posted an 18% surge in its first-quarter profit. Descartes' quarterly net income gained to $2.6 million, or $0.04 per share, versus $2.2 million, or $0.03 per share, in the year-ago period. Its revenue surged 10% to $29.9 million, while services revenue gained 7% to $27.7 million. Descartes shares closed at $8.07 yesterday.