Stock Alert: Descartes Climbs 6%

(RTTNews) - Shares of federated network and logistics technology solutions provider The Descartes Systems Group Inc (DSGX) were up $2.55 or 6.37% on Thursday after the company's fourth-quarter earnings beat estimates.

The stock closed the trade at $42.55, yesterday. DSGX has traded in the range of $33.35- $47.43 in the past one year.

Earnings for the fourth quarter increased to $11.4 million or $0.13 per share from $7.9 million or $0.10 per share in the same quarter a year ago. On average, 13 analysts polled by Thomson Reuters were expecting earnings of $0.12 per share.

Revenue went 19% higher year-on-year to $84.2 million.

Looking forward, Edward J. Ryan, Chief Executive Officer stated, "Our calibration for Q1 is $81.3 million invisible recurring contracted revenues, our baseline revenues. ....we don't know the exact impact of coronavirus. So, we haven't adjusted our calibration to reflect any adverse impact from that, other than what we typically see seasonally."

Analysts see revenue of $86.37 million in the first quarter.