MIND CTI back to black ink in Q1
Israeli OSS/BSS vendor MIND CTI has swung to a $2.6 million profit in the first half, after winning a new customer and a major upgrade.
The company, which reported a loss of $542,000 in Q109, grew its revenue to $10.1 million from $8.5 million over the same period.
MIND CTI said it had won one new customer - a European operator selected as a prime contractor in an EU project - and a project to upgrade a South African carrier's existing billing system.
But at the same time, the company lost a US customer that had been under a managed services contract.
“While we believe the market is not strong enough to enable growth, we continue to focus on our targets: satisfied customers, successful project implementations, winning new business and positive cash flow,” CEO Monica Iancu said.
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