MIND CTI registers revenue decline, net loss in Q2

MIND CTI posted a 14% revenue decline to $4.4 million in the second quarter, from $5.1 million in the same period last year.

The company registered a non-GAAP net loss of $635,000 and a GAAP net loss of $754,000 during the period.

The company attributed its weaker second-quarter performance to write-offs of deferred charges and deferred revenues related to two customers that terminated long-term contracts due to lack of financing.

Despite this, the company still saw opportunities in the second quarter, even securing a new customer: a regional mobile operator in the US that offered postpaid and prepaid wireless, Internet, long-distance and paging services.

The license contract will be deployed and recognized over the next four quarters and includes commitment for future support and maintenance services.