Business
CSP Inc. Reports Fiscal 2021 Third Quarter Results
Continued Year-over-Year Gross Margin Improvement Validates Business Strategy LOWELL, Mass., Aug. 11, 2021 (GLOBE NEWSWIRE) -- CSP Inc. (NASDAQ: CSPI), an
About this update from Csp Inc.
[{"type":"text","content":"Continued Year-over-Year Gross Margin Improvement Validates Business Strategy\nLOWELL, Mass., Aug. 11, 2021 (GLOBE NEWSWIRE) -- CSP Inc. (NASDAQ: CSPI), an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, reported financial and operating results for the fiscal 2021 third quarter ended June 30, 2021 and provided a business update. Third Quarter Operating Highlights and Recent Achievements Signed new multi-million-dollar cloud-based customer with a potential for up to 10,000 usersContinue to on board ARIA ADR customers, demonstrating the successful integration with the MSP business; Received purchase orders from three new customers; more than two dozen targets currently evaluating ARIA proposalsContinued positive impact of a favorable revenue mix led to a gross margin improvement compared to the year-ago fiscal third quarterReceived numerous industry accolades: CRN®, a brand of The Channel Company, named CSPi Technology Solutions to its 2021 Managed Service Provider (MSP) 500 list in the Security 100 category. The list, released annually, recognizes the leading North American solution providers that have demonstrated innovative and forward-thinking approaches to managed servicesTwo ARIA SDS applications for automated cyber-attack detection and response won the following awards from Cyber Defense Magazine (CDM), the industry’s leading electronic information security magazine: Cutting Edge in Advanced Persistent Threat Detection and Response and Most Innovative in Network Security and Management Solid balance sheet provides resources for Company to pursue growth strategy “Our Technology Solutions (TS) business delivered another exceptional quarter, generating significant momentum and securing a multi-million-dollar cloud-based contract that will deliver meaningful results for many years,” commented Victor Dellovo, Chief Executive Officer. “Despite TS having one of its best quarters ever, realizing continued revenue growth from larger and new customers, its solid execution was offset by the performance of the High Performance Product (HPP) business. Nevertheless, we have great faith in the HPP business due to the emergence of our award-winning ARIA platform. It continued to garner tremendous interest and we currently have over two dozen leads in the sales f...