This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CSP Inc. Reports Fourth-Quarter And Year-End Fiscal 2012 Financial Results

BILLERICA, Mass., Dec. 13, 2012 (GLOBE NEWSWIRE) -- CSP Inc. (Nasdaq:CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the fourth quarter and fiscal year 2012 ended September 30, 2012.

Fourth-Quarter and Fiscal 2012 Financial Highlights
  • Revenue increases 35% to $22.3 million for Q4 and grows 15% to $84.8 million for fiscal 2012
  • Gross margin increases to 25% for Q4 2012 from 24% for Q4 2011; Climbs to 24% for fiscal 2012 from 22% in fiscal 2011
  • Tax benefit of $2.6 million for Q4 due primarily to the reversal of $3.0 million of valuation allowance for the deferred tax asset 
  • Net income at $4.9 million for Q4 2012 compared with net loss of $92 thousand a year ago; Full year net income increases 1690% to $6.6 million from $369 thousand in fiscal 2011
  • Cash increases by $4.6 million from year-end 2011 to $20.5 million
  • Company declares special annual dividend of $0.20 per share

Management Comments

"We concluded an excellent fiscal year with strong results in the fourth quarter," said CSP President & Chief Executive Officer Victor Dellovo. "We increased revenue at both of our segments, and generated strong gross margins and significantly improved earnings per share."

"At our Systems segment, we benefited from royalty revenues related to two E-2D Hawkeye aircraft," said Dellovo. "We expect to record revenue for the final plane on the E-2D purchase order in the first quarter of fiscal 2013. At our Service and Systems Integration segment, the strong sales growth was driven by continued demand from hosting customers as well as new customer relationships in the banking and hospital markets. All three of our subsidiaries in this segment reported year-over-year sales growth in the quarter."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs