Everyday on CNBC they are talking about companies with earnings ,real earnings ,there are those few companies
out there, that are showing profits qrt after qrt ,might miss one qrt but again the next qrt showing earnings.
One such company is "CSPI" undervalued ,also an international company
cspi.com
CSP INC. Reports Second-Quarter Fiscal 2000 Financial Results
Recent Highlights Include Introduction of WAP66„ Portal Server
and Equity Investment in VerticalBuyer, Inc.
BILLERICA, MA, March 29, 2000 -- CSP Inc. (NASDAQ: CSPI), a provider of Internet software for e-commerce solutions, image processing software, network management integration services and high-performance computer systems, today reported financial results for the second quarter of fiscal 2000 ended February 29, 2000.
Financial Review
For the second quarter of fiscal 2000, CSP Inc. (CSP) reported net income of $625,000, or $0.16 per share, on sales of $18.4 million, compared with net income of $435,000, or $0.12 per diluted share, on sales of $15.6 million in the second quarter of fiscal 1999. The 43 percent increase in second-quarter net income over the previous year's level was primarily due to a more than $3.1 million increase in sales, largely attributable to strong demand for network management outsourcing services in Europe at the Company's MODCOMP, Inc. subsidiary.
For the six months ended February 29, 2000, sales were $34,094,000 compared with $27,100,000 for the same period last year, an increase of 26 percent. CSP reported net income for the current period of $295,000, or $0.08 per diluted share, compared with net income of $911,000, or $0.25 per diluted share, for the first six months of fiscal 1999.
"Thanks to the strong performance of our systems integration and outsourcing business, we are pleased to report solid results for our second quarter," said Alexander R. Lupinetti, CSP chairman, president and chief executive officer.
"Looking ahead, the series of exciting new-business wins we announced for our emerging ViewMax„ and WAP66„ software products during the quarter reinforces our optimism about the potential for these new solutions to drive the future expansion of our business. We expect that current defense industry deployment trends, however, will continue to have an impact on our financial results as 2000 continues," Lupinetti continued. The defense industry's extended deployment incubation period results in an unpredictable short-term revenue stream for the Company's MultiComputer division.
"Through our investment in technology and recognition of many dramatic, emerging trends, we believe that we are laying the foundation for the solid long-term growth of the Company. We expect to capitalize on advancements in wireless communications and e-commerce with our ViewMax and WAP66 software offerings as well as our equity investment in VerticalBuyer," Lupinetti said. |
