WATERLOO, Ontario - The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2017 fourth quarter (Q4FY17) and year (FY17) ended January 31, 2017. All financial results referenced are in United States (US) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles (GAAP). “Descartes is a trusted party focused on helping our customers manage complexity and change in logistics and supply chains,” said Edward J. Ryan, Descartes’ CEO. “Our strong financial performance this past year illustrates the value we bring to customers amid global trade uncertainty via our efficient Global Logistics Network (GLN) infrastructure. We continue to invest in the GLN and our products both organically and through acquisitions, including the 4 businesses we combined with last year. Combined with our available capital and our track record of execution, Descartes and the GLN is a solid platform for continued growth and acquisitions.” FY17 Financial Results Key financial highlights for Descartes’ twelve-month period ended January 31, 2017 (FY17) included:
  • Revenues of $203.8 million, up 10% from $185.0 million in the same period a year ago (FY16);
  • Revenues were comprised of license revenues of $6.9 million (3% of total revenues) and services revenues (non-license) of $196.9 million (97% of total revenues). Services revenues were up 12% from $176.3 million in FY16;
Cash provided by operating activities of $72.6 million, up 34% from $54.2 million in FY16;
  • Net income of $23.8 million, up 16% from $20.6 million in FY16. Net income as a percentage of revenues was 12%, up from 11% in FY16;
  • Earnings per share on a diluted basis of $0.31, up 15% from $0.27 in FY16; and
Adjusted EBITDA of $70.1 million, up 15% from $60.9 million in FY16. Adjusted EBITDA as a percentage of revenues was 34%, up from 33% in FY16.