Descartes Systems posted third quarter adjusted earnings of $0.31 per share, which exceeded the Zacks Consensus Estimate of $0.27 per share (according to Zacks Equity Research). This compares to earnings of $0.30 per share a year ago.
Revenues came in at $121.47 million, falling short of the Zacks Consensus Estimate by 1.33% (according to Zacks Equity Research). The figure is higher than the year-ago revenues of $108.91 million.
At the end of the quarter, Descartes had $237 million in cash. President and COO Scott Pagan mentioned that the company is debt-free with an undrawn $350 million line of credit that it just extended the term on.