UPDATE: Descartes Systems Q2 Net Profit Down 4%

Descartes Systems Group

reported a 4% drop in its second-quarter profit. Descartes Systems' quarterly net income declined to $2.5 million, versus $2.6 million, in the year-ago period. Its per-share earnings came in flat at $0.04 per share. Excluding one-time items, Descartes Systems earned $0.15 per share. However, analysts were projecting earnings of 13 Canadian cents per share. Its revenue climbed 6% to $30.5 million, missing analysts' estimates of C$31.08 million ($31.34 million). Descartes Systems shares fell 1.20% to close at $8.26 yesterday.