MIND CTI revenues down 7% in Q2
MIND CTI reported revenues of $4.55 million in the second quarter, down from $4.9 million in the same period of 2010.
Operating income was $843,000 or 18.5 % of revenue while net income was $967,000 or $0.05 per share.
During the quarter, MIND CTI engaged one new customer but listed multiple follow-on orders.
CEO Monica Iancu said that while revenues were below expectations, “we are encouraged by the continued follow-on business and the opportunities in our pipeline.”