Business
CSG Systems International Reports Record Revenues for Fourth Quarter and Full Year 2019
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age,
About this update from Csg Systems International, Inc.
[{"type":"text","content":" GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--\nCSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, today reported results for the quarter and year ended December 31, 2019.\n\n\nFinancial Results: \n\n\n\nFourth quarter 2019 financial results:\n\n\nTotal revenues were $254.7 million and total non-GAAP adjusted revenues were $236.9 million.\n\n\nGAAP operating income was $30.3 million, or 11.9% of total revenues, and non-GAAP operating income was $41.5 million, or 17.5% of non-GAAP adjusted revenues.\n\n\nGAAP earnings per diluted share (EPS) was $0.70 and non-GAAP EPS was $0.98.\n\n\nCash flows from operations were $43.5 million, with non-GAAP free cash flow of $33.9 million.\n\n\n\n\nFull year 2019 financial results:\n\n\nTotal revenues grew 14% year-over-year to a record high of $996.8 million and non-GAAP adjusted revenues were $927.7 million.\n\n\nGAAP operating income was $126.1 million, or 12.7% of total revenues, and non-GAAP operating income was $165.7 million, or 17.9% of non-GAAP adjusted revenues.\n\n\nGAAP EPS was $2.55 and non-GAAP EPS was $3.53.\n\n\nCash flows from operations were $151.1 million, with non-GAAP free cash flow of $113.8 million.\n\n\n\n\n\nShareholder Returns: \n\n\n\nCSG declared its quarterly cash dividend of $0.2225 per share of common stock, or a total of approximately $7 million, to shareholders, bringing total 2019 dividends to approximately $29 million.\n\n\nIn February 2020, CSG’s Board of Directors approved an approximately 6% increase in CSG’s cash dividend, with quarterly payments of $0.235 per share of common stock to be paid in March 2020.\n\n\nDuring the quarter and full year 2019, CSG repurchased under its stock repurchase program, approximately 91,000 shares of its common stock for approximately $5 million and approximately 576,000 shares of its common stock for approximately $26 million, respectively.\n\n\n\nBusiness Activities:\n\n\n\nIn December 2019, CSG entered into a five-year extension with Comcast, extending its partnership through December 31, 2025, as the provider of billing services for Comcast’s residential broadband, video, home, and voice customers.\n\n\nOn January 2, 2020, CSG acquired certain assets of Tekzenit, Inc., based in Dallas, Texas, that provides strategy, design engineering, and technology enablemen...