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CSG Systems International Reports Results For First Quarter 2012

CSG Systems International, Inc. (Nasdaq: CSGS), a global provider of software- and services-based business support solutions that help clients generate revenue and maximize customer relationships, today reported results for the quarter ended March 31, 2012.

Key Financial Highlights :
  • First quarter 2012 results:
  • Total revenues were $185.0 million.
  • Non-GAAP operating income was $38.3 million, or 20.7% of total revenues and GAAP operating income was $29.0 million, or 15.6% of total revenues.
  • Non-GAAP earnings per diluted share (EPS) was $0.60. GAAP EPS was $0.36.
  • Cash flows from operations for the quarter were $48.2 million.
  • During the quarter, CSG repurchased approximately 328,000 shares of its common stock for $5.2 million (weighted-average price of $15.84 per share) under its stock repurchase program.

“We are making solid progress on the transformation of our company into a global provider of business-enabling solutions throughout our business, whether that be in sales operations or financial performance,” Peter Kalan, president and chief executive officer of CSG Systems said. One of our greatest strengths as a company is that our clients trust doing business with us. By investing in our clients, whether that be in the relationships or in our solutions, we help our customers solve more problems and be more competitive.”

Financial Overview (unaudited)

(in thousands, except per share amounts and percentages):
  Quarter Ended March 31,





Percent Change
Revenues $ 185,007 $ 183,092 1 %
Non-GAAP Results:
Operating Income $ 38,311 $ 33,018 16 %
Operating Income Margin 20.7 % 18.0 % -
EPS $ 0.60 $ 0.54 11 %
GAAP Results:
Operating Income $ 28,952 $ 24,104 20 %
Operating Income Margin 15.6 % 13.2 % -
EPS $ 0.36 $ 0.35 3 %

For additional information and reconciliations regarding CSG’s use of non-GAAP financial measures, please refer to the attached Exhibit 2 and the Investor Relations section of CSG’s website at

Results of Operations

Revenues: Total revenues for the first quarter of 2012 were $185.0 million, relatively consistent when compared to revenues of $183.1 million for the first quarter of 2011, and $187.6 million for the fourth quarter of 2011.

Non-GAAP Results: Non-GAAP operating income for the first quarter of 2012 was $38.3 million, or 20.7% of total revenues, which compares to $33.0 million, or 18.0%, for the same period in 2011, with the increase in operating income margin attributed primarily to the financial benefits of the restructuring activities undertaken during 2011. Non-GAAP operating income for the fourth quarter of 2011 was $40.0 million, or 21.3% of total revenues. The sequential quarterly decrease in operating income can be primarily attributed to lower sequential revenues.

Non-GAAP EPS for the first quarter of 2012 was $0.60, compared to non-GAAP EPS of $0.54 for the first quarter of 2011 and $0.64 for the fourth quarter of 2011.

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