MIND CTI nets $2.6m

MIND CTI registered a net income of more than $2.6 million in the first nine months of the year, significantly higher than the $872,000 posted in the same period last year.


Revenues from the January-September period, however, were lower at close to $12.9 million, as compared with almost $15 million in the same timeframe a year ago. MIND CTI attributed its low 2006 net income to expenses related to the premature withdrawal of long-term deposits amounting to more than $1.3 million. For the fourth quarter, the company aims to achieve a 10% revenue growth to $5.4 million, from just a little more than $4 million in the third quarter.