Net income for the fourth quarter of fiscal 2012 increased to $4.9 million, or $1.43 per diluted share, compared with a net loss of $92 thousand, or $0.03 per share, in the fourth quarter of fiscal 2011. For the full year, net income grew to $6.6 million, or $1.91 per diluted share, from $369 thousand, or $0.10 per diluted share, in fiscal 2011.For the year ended September 30, 2012, the company realized a tax benefit of $1.7 million related to a reversal of its previously disclosed valuation allowance on deferred tax assets. This reversal reflected the company's belief that it will have sufficient future taxable income to utilize its existing deferred tax assets, based on its assessment of positive evidence in its U.S operations, as well as the likelihood of continued royalty income and expectation that its Service and Systems Integration segment will continue to be profitable in future years.
CSP Inc. Reports Fourth-Quarter And Year-End Fiscal 2012 Financial Results
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