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Houston Wire & Cable’s Sales Up Slightly in 1Q

Descartes Systems Group Sales Up 16% in 1Q

Descartes Systems Group, Waterloo, Ontario, reported sales for the fiscal 2020 first quarter of $78 million, up 16% from the first quarter of fiscal 2019. Profit increased 4% to $7.3 million.

On February 12 Descartes acquired substantially all of the assets of the businesses run by the Management Systems Resources Inc. group of companies, a provider of software solutions and services to automate customs, trade and fiscal compliance processes including denied and restricted party screening processes and export licensing. The purchase price for the acquisition was $248.9 million.

On May 10 Descartes also acquired CORE Transport Technologies NZ Limited, an electronic transportation network that provides global air carriers and ground handlers with shipment scanning and tracking solutions. The purchase price for the acquisition was $22 million.

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