Investment Q&A

We would never discount AMZN as a competitor. Its supply chain offering integrates freight, warehousing, inventory management, fulfillment and parcel shipping, directly competing with many carriers.  That being said, it will remain just one of many options for customers, and for DSG and KSX, which focus on supply chains and logistics, it should not be a huge negative. Customers will see Amazon as one option, and will still need software to determine how to allocate goods and whether AMZN is the 'best' option at a certain time for a certain customer. It could have a negative impact on pricing, as it is another competitor, but it may not have a huge direct impact. We will need to see, but we would not panic here. KXS reported very strong numbers (comments posted) but of course it is too early to actually see impact from this.