MIND CTI posts 48% revenue rise

Nasdaq-listed MIND CTI reported a 48% year-on-year revenue rise to $5.07 million in the second quarter of its 2006 fiscal year. Net income stood at $1.09 million.


The company said the results reflected the change in its business model, opting to close more managed services deals and build longer-term relationships, as well as to increase its average deal size.


In the second quarter alone, the firm secured three new deals, including one with a large European operator. The


Americas still accounted for bulk of MIND CTI's revenues at 56%, followed by Europe at 31%, and Africa, Asia Pacific and Israel at 13%.