The Investment Reporter, in its May 17, 2013, issue, says buy The Descartes Systems Group Inc., recently $10.70. The Reporter said buy on Nov. 11, 2011, at $7.35, and again on Aug. 17, 2012, at $8.20. Assuming an investment of $1,000 for each of the two buys, the $2,000 position would now be worth $2,749. On May 2, 2013, the company acquired KSD Software of Norway for $33-million (U.S.). KSD has offices in Norway, Sweden, Denmark and Holland; this adds over 1,300 customers to Descartes's global logistics network. As a result, Descartes's earnings are expected to rise to 57 cents a share in the year ending Jan. 31, 2014. Next year, the company is expected to earn an even higher 64 cents a share. The increasing earnings justify the price-to-earnings ratio of 16.7. Despite having borrowed $20-million, the company's net-debt-to-cash-flow ratio is a safe and low 0.6. Descartes is a buy, provided you need no dividends and can accept a higher-risk stock.