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     120  0 Kommentare MIND CTI Reports Second Quarter 2020 Results

    YOQNEAM, Israel, Aug. 11, 2020 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced results for its second quarter ended June 30, 2020.

    The following will summarize our major achievements in the second quarter of 2020 as well as our business. The financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K.

    Financial Highlights

    • Revenues of $5.6 million, compared with $5.7 in the second quarter of 2019.
    • Operating income of $1.4 million, or 25% of total revenues, compared with $1.0 million, or 18% of total revenues in the second quarter of 2019.
    • Net income was $1.4 million, or $0.07 per share, compared with $1.0 million, or $0.05 per share in the second quarter of 2019.
    • Multiple follow-on orders, including two significant ones.
    • Cash flow from operating activities in the quarter of $1.3 million, compared with $1.1 million in the second quarter of 2019.

    Six Month Financial Highlights

    • Revenues of $11.6 million, compared with $10.2 million in the first six months of 2019, with the increase attributed to the acquisition of Message Mobile in March 2019 and of GTX in September 2019, which generated revenues of approximately $4.3 million during the first half of 2020, while in 2019 only Message Mobile contributed to the six months revenues with only Q2 revenues of $1.6 million.
    • Operating income of $2.7 million, or 23% of total revenues, compared with $2.5 million or 25 % of total revenues in the first six months of 2019.
    • Net income of $2.6 million, or $0.13 per share, compared with $2.5 million, or $0.13 per share in the first six months of 2019.
    • Cash flow from operating activities in the first six months of 2020 was $2.3 million, compared with $3.4 million in the first six months of 2019.

    Monica Iancu, MIND CTI CEO, commented: “The decline in revenues in Q2 2020 was in line with our expectations as previously conveyed. The increase in net income reflects the measures applied in Q2 to reduce cost, such as the temporary part-time work that we enforced for two months in Q2, the low travel expenses as a result of travel limitations as well as the increase in financial income that fluctuates among quarters. We are excited with the latest upgrade of an existing significant customer. We continue to invest in new technologies and expanding our platform to better support digital transformations. While we cannot estimate the impact of COVID-19 for the long term, we expect this year’s dividend to be similar to the previous year’s one, subject to Board approval.”

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    MIND CTI Reports Second Quarter 2020 Results YOQNEAM, Israel, Aug. 11, 2020 (GLOBE NEWSWIRE) - MIND C.T.I. LTD. – (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications …