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CSI Reports Record Third Quarter Revenues and Net Income

 

Jan 3 - Computer Services Inc. (CSI) (OTCQX: CSVI) has reported record revenues and net income for the fiscal third quarter and nine months ended Nov. 30, 2013.

Third quarter revenues rose 7 percent to $53.1 million in fiscal 2014 compared with $49.6 million in the third quarter of fiscal 2013. Third quarter net income increased 1.9 percent to $6.7 million, and diluted net income per share rose 4.4 percent to $0.47, compared with $6.6 million, or $0.45 per diluted share, in the third quarter of fiscal 2013.

“CSI marked its 38th consecutive quarter of revenue growth at Nov. 30, 2013,” stated CEO Steven A. Powless. “We benefited from higher processing revenues generated from our core processing customers and higher other revenues due to increased demand for our mobile and Internet banking solutions as well as record transaction volume from our regulatory compliance services."


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