Business
CSG Systems International Reports Fourth Quarter 2021 Results
--News Direct--CSG Grows Revenue 6% and Surpasses $1Billion in Annual Revenue in 2021Issued Growth-Oriented 2022 Financial Guidance TargetsBoosted Dividend by
About this update from Csg Systems International, Inc.
[{"type":"text","content":"--News Direct--CSG Grows Revenue 6% and Surpasses $1Billion in Annual Revenue in 2021Issued Growth-Oriented 2022 Financial Guidance TargetsBoosted Dividend by 6% in ’22 Representing our 9th Straight Year of Increased PayoutCSG (NASDAQ: CSGS) today reported results for the quarter and year ended December 31, 2021. Financial Results: Fourth quarter 2021 financial results: Total revenue was $275.0 million and total non-GAAP adjusted revenue was $257.6 million. GAAP operating income was $27.9 million, or 10.1% of total revenue, and non-GAAP operating income was $40.2 million, or 15.6% of non-GAAP adjusted revenue. GAAP earnings per diluted share (EPS) was $0.54 and non-GAAP EPS was $0.83. Cash flows from operations were $51.9 million, with a non-GAAP free cash flow of $47.9 million.Full year 2021 financial results:Total revenue was $1,046.5 million and non-GAAP adjusted revenue was $979.8 million.GAAP operating income was $124.2 million, or 11.9% of total revenue, and non-GAAP operating income was $161.7 million, or 16.5% of non-GAAP adjusted revenue.GAAP EPS was $2.26 and non-GAAP EPS was $3.35. Cash flows from operations were $140.2 million, with non-GAAP free cash flow of $113.7 million.Shareholder Returns:In November 2021, CSG declared its quarterly cash dividend of $0.25 per share of common stock, or a total of approximately $8 million, to shareholders, bringing total 2021 dividends to approximately $33 million.In January 2022, CSG’s Board of Directors approved a 6% increase in CSG’s cash dividend, with quarterly payments of $0.265 per share of common stock to be paid in March 2022.During the quarter and full year 2021, CSG repurchased under its stock repurchase program, approximately 295,000 shares of its common stock for approximately $16 million and approximately 732,000 shares of its common stock for approximately $36 million, respectively.Business Activities:In November, CSG extended its contract with Charter, its largest client, through December 31, 2027. In October, CSG extended its contract with DISH through June 30, 2026.During the year we closed three meaningful acquisitions (Kitewheel, Tango Telecom, and DGIT Systems).“Over the past year, I have highlighted how CSG will win big in the market and consistently outperform by investing in our culture, talent, and future-ready SaaS platforms,” said Brian Shepherd, Preside...