MIND reports Q1 revenue drop

Israel's MIND CTI registered revenues of $4.81 million in the first quarter, lower than the $5.25 million posted in the same period last year. GAAP net income was 76% higher, however, at $1.15 million or $0.05 per share.

Bulk of its sales came from Europe (43%) and the Americas (41%).

Revenue from its customer care and billing software totaled $4.05 million, while that from its enterprise call management software was $755,000.

Licenses contributed $1.91 million to revenues, maintenance $1.69 million, and services $1.21 million.

During the first quarter, the company focused on enhancing its product suite to enable it to secure follow-on orders and new contracts.