MIND CTI 2012 profit flat at $43m

MIND CTI said its net income in 2012 was $4.3 million, growing at a flat rate from the 2011 level.

On the other hand, revenues grew by 6.9% year-on-year to $20.2 million.

The company closed the year with a 7.7% leap in net income in the fourth quarter, which reached $1.4 million. However, revenues dipped by 5.7% to about $5 million.

Given the strong cash flow in 2012 and the remaining cash after the distribution, the company’s board declared a gross dividend of $0.24 per share.

Monica Iancu, MIND CTI CEO, said the company expects continued increase demand for professionals services in 2013.