CSGS ($50-$52-$47) P/E 27 Earnings & Rev's Rose.
Monday July 30, 4:42 pm Eastern Time
CSG Systems second-quarter profits up 30 percent
ENGLEWOOD, Colo., July 30 - CSG Systems International, Inc. (NasdaqNM:CSGS - news),a provider of customer care and billing processing services, on Monday said second-quarter earnings rose by 30 percent as strong growth in new contracts helped boost revenues.
The Englewood, Colorado-based company reported net income in the quarter ended June 30 of $28.5 million, or 52 cents per diluted share, versus $21.9 million, or 39 cents per diluted share in the year-ago quarter.
Total revenues rose by 25 percent to $120 million from $96.0 million. CSG said its total domestic customer accounts on its processing system as of June 30 were 39.2 million, compared to 34.5 million a year ago, reflecting an increase of 14 percent.
Looking ahead, CSG said it expects 2001 total revenues to grow between $475 million to $495 million. It said processing revenues are expected to make up 70 to 75 percent of the total 2001 revenues. Earnings per diluted share are expected to range from $2.04 to $2.11.
CSG shares closed on Monday down 88 cents, or 1.71 percent, at $50.63 on the Nasdaq stock market. |
