Business
CSG Systems International Reports Third Quarter 2020 Results
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 ended September 30, 2020.\n\nFinancial Results:\n\n\nThird quarter 2020 financial results:\n\n\nTotal revenue was $244.1 million and total non-GAAP adjusted revenue was $227.7 million.\n\n\nGAAP operating income was $28.9 million, or 11.9% of total revenue, and non-GAAP operating income was $39.1 million, or 17.2% of non-GAAP adjusted revenue.\n\n\nGAAP earnings per diluted share (EPS) was $0.42 and non-GAAP EPS was $0.76.\n\n\nCash flows from operations were $65.2 million, with non-GAAP free cash flow of $55.3 million.\n\n\n\n\nShareholder Returns:\n\n\nCSG declared its quarterly cash dividend of $0.235 per share of common stock, or a total of approximately $8 million, to shareholders.\n\n\nDuring the third quarter of 2020, CSG resumed its stock repurchase program, repurchasing approximately 139,000 shares of its common stock for approximately $6 million (weighted-average price of $39.93 per share).\n\n\n“Our ability to help our clients solve their toughest problems resulted in us delivering another strong quarter in a very challenging environment,” said Bret Griess, president and chief executive officer of CSG International. “The combination of our resilient business model, long-term relationships with service providers in an expanding set of verticals, and our broad portfolio of solutions focused on helping companies compete in a more digital world positions us well for the future.”\n\nFinancial Overview (unaudited)\n\n\n\n(in thousands, except per share amounts and percentages):\n\n\n\n\n\n\n\n\n \n\n\n\n\nQuarter Ended\nSeptember 30,\n\n\n\n \n\n\n\nNine Months Ended\nSeptember 30,\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nPercent\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nPercent\n\n\n\n\n\n \n\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChanged\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChanged\n\n\n\n\n\nGAAP Results:\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n\n$\n\n\n\n244...