Dominion Lending Centres Clearlease Reports Descartes (TSX:DSG) 11-fold increase in Q1 profit as revenue rises 27 per cent

Dominion Lending Centres Clearlease Reports Descartes (TSX:DSG) 11-fold increase in Q1 profit as revenue rises 27 per cent

VANCOUVER, BC (June 2, 2011) Dominion Lending Centres Clearlease Reports Descartes Systems Group (TSX:DSG) had US$27.1 million in revenue in its first quarter, up 27 per cent from the same time last year, the logistics service company said Thursday June 2, 2011.

Net income, reported in U.S. currency, was $2.2 million, or three cents per diluted share. That was up from $200,000 or less than one cent per share in the year-earlier quarter.

Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $7.8 million, up 47 per cent from $5.3 million a year earlier.

On a per-share basis, adjusted EBITDA was 12 cents per diluted share — up 50 per cent from eight cents in the year-earlier quarter.

The bulk of revenue — $25.9 million or 96 per cent of the total — was from providing services used primarily by freight carriers to manage their business.

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About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
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Twitter: @clearlease

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