Canaccord Genuity Says Activities With Respect to CGWM UK Have Been Limited to Discussions and Assessment of Potential Strategic Opportunities

Descartes Systems Group Reports Higher Profit, Revenue for Fiscal First Quarter; Slips 4.6% After Hours

Descartes Systems Group (DSG.TO, DSGX) was last seen down 4.6% in after-hours Nasdaq trade after the company on Wednesday said its fiscal first-quarter profit and revenue rose year-over-year.The company earned US$48.5 million, or US$0.55 per share, in the period, up from US$36.2 million, or US$0.41, a year ago. FactSet expected US$0.52 per share.Revenue rose to US$193.6 million from US$168.7 million in the year-prior quarter. FactSet projected US$191.6 million. The company said revenues consisted mainly of US$180.5 million in services revenue, US$11.5 million in professional services and other revenue, and US$1.6 million in license revenue."The global trade landscape remains extremely challenging as supply chain participants look to keep up with increasingly dynamic conditions. Our network provides the timely, accurate and reliable data needed to fuel both AI-powered solutions and existing systems of record that are deeply embedded in logistics operations," Chief Executive Edward Ryan said.The company's shares were last seen down US$3.44 to US$70.67 after hours. They closed down C44.44 to C$102.88 on the Toronto Stock Exchange.

Canaccord Genuity Q4 Diluted EPS $0.48, An Increase of 300.0%

Canaccord Genuity Increased Quarterly Dividend 17.6% to $0.10 per common share