Revenues, profit up in Q1 for MIND CTI

MIND CTI said its net income for the first quarter of 2012 eased by 4% YOY to $1.11 million or $0.06 per share. Revenues improved 18% to $5.26 million.
 
Sales in the Americas represented 48.5% while Europe represented 30.7% and the rest divided between Israel, Africa and Asia-Pacific.
 
The company’s board has declared a cash dividend of $0.24 per share before withholding tax for a total of $4.5 million.
 
"We are excited to have a few customers going live in parallel,” said CEO Monica Iancu. “At the same time, we are disappointed that, as previously announced, some maintenance agreements were not renewed and we expect that this will bear negative impact mainly on profitability in 2012."

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