CSG profit soars $20m

Business support solutions provider CSG Systems International claims restructuring work is bearing fruit, after almost doubling net income in 2011.
 
CSG’s profit hit $42.2 million (€31.7 million) in 2011, compared to $22.4 million in 2010, on revenue of $734 million. Figures for the fourth quarter show a greater improvement, as the firm overturned a $1.7 million loss in 4Q10 with an $11.2 million profit in 4Q11.
 
Peter Kalan, president and chief of CSG, says investment was key to the strong 2011. The firm focused on client relationships, improving its deep domain expertise and products, and bolstering its in-house staff. Despite being pleased with the solid growth, Kalan says there is more work to do. “Our transformation of our company to a global leader of business-enabling solutions is not complete,” he notes.
 
Kalan’s mantra is evident in modest 2012 forecasts, with CSG predicting revenue between $715 million and $740 million, and adjusted ebitda in the range of $164 million to $171 million.