Business
CSP Inc. Reports Fiscal Second Quarter 2024 Operating Results; 23% Growth in Services Revenue Drives Gross Margin Percentage Expansion to 47% and Nearly Five-Fold Increase in Net Income
ARIA Zero Trust PROTECT ("AZT PROTECT™" or "AZT") Launch Broadens to Address Mid-Market Opportunity While Fortune 500 Pipeline Increases; Global
About this update from Csp Inc.
[{"type":"text","content":"ARIA Zero Trust PROTECT (\"AZT PROTECT™\" or \"AZT\") Launch Broadens to Address Mid-Market Opportunity While Fortune 500 Pipeline Increases; Global Pharmaceutical Company Signs Multi-Million Dollar AZT Contract LOWELL, MA / ACCESSWIRE / May 8, 2024 / CSP Inc. (NASDAQ:CSPI), an award-winning provider of cybersecurity AI-driven solutions (AZT), security and packet capture products, managed IT and professional / cloud services and technology solutions, today announced results for the fiscal second quarter ended March 31, 2024. The Company also announced that the Board of Directors declared a quarterly dividend of $0.03 per share payable June 12, 2024, to shareholders of record on the close of business on May 24, 2024.Recent Achievements and Operating HighlightsServices revenue and high margin AZT sale contributes to the expanded gross margin and net income of $1.6 million for the fiscal second quarterRecently published case study of AZT PROTECT™ in The Journal, an award-winning publication from Rockwell Automation and Our PartnerNetwork™, reached a subscriber base of over 50,000. The Journal educates the industrial automation market on leading-edge methods, trends, and technologiesCRN®, a brand of The Channel Company, named CSPi Technology Solutions to its Managed Service Provider (MSP) 500 list in the Security 100 category for 2024.Continued strong balance sheet allows the company to rapidly invest in AZT PROTECT™ market development initiativesARIA Cybersecurity Wins Global Infosec Cybersecurity Product Award for AZT PROTECT at RSAARIA Cybersecurity Wins Prestigious Globee Cybersecurity Product Award for AZT PROTECT\"Our business continued to operate at a high level during the quarter, and across the board we are building a pipeline that is in line with, or well above our internal plans. As a result, we continue to execute a strategy designed to generate sustained long-term growth and profitability,\" commented Victor Dellovo, Chief Executive Officer. \"The consistent performance of our Technology Solutions (TS) business and robust balance sheet is enabling investment in certain sales and marketing initiatives to generate the desired growth outcomes for the High Performance Products (HPP) business, mainly with the AZT offering.\"\"We believe our multi-pronged market awareness strategy for the AZT offering is demonstrating the nee...