Business
CSPi Reports Continued Business Momentum and Profitability During Fiscal 2025 First Quarter; Services Revenue Grow 17% and Gross Margin Expands
Board Declares $0.03 per Share Quarterly Dividend LOWELL, MA / ACCESS Newswire / February 10, 2025 / CSP Inc. (NASDAQ:CSPI), an award-winning provider of
About this update from Csp Inc.
[{"type":"text","content":"Board Declares $0.03 per Share Quarterly Dividend LOWELL, MA / ACCESS Newswire / February 10, 2025 / CSP Inc. (NASDAQ:CSPI), an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, today announced results for the fiscal 2025 first quarter ended December 31, 2024. The Company also announced that the Board of Directors declared a quarterly dividend of $0.03 per share payable March 10, 2025, to shareholders of record at the close of business on February 24, 2025.Recent Achievements and Operating HighlightsLed by growth in cloud-base and recurring revenue sources, services revenue increased 17%.Signed several new ARIA Zero Trust Protect (AZT PROTECT™) customers as the Company continues to make initial entry into high growth industries, including utility and wastewater treatment.Maintained a robust balance sheet with approximately $30.7 million in cash and cash equivalents for the Company to implement near and long-term business initiatives to generate sustained growth and profitability.\"The team did an excellent job of continuing our fourth quarter marketplace momentum, which resulted in a solid start to our fiscal 2025,\" commented Victor Dellovo, Chief Executive Officer. \"We reported increases in total and services revenue, expanded our gross margin and generated a quarterly net income of $0.05 per common share - diluted. The Technology Solutions (TS) business performed well throughout the quarter and generated operating income as the cloud-based business remained strong and the sales to cruise lines increased. Additionally, we signed several new customers for the AZT PROTECT™ offering and increased both the referenceable industries and customers as we continue to build our presence in the operational technology (OT) market and drive the High Performance Products (HPP) business. Our goal for the remainder of the year is to leverage the momentum, increase the recurring revenue base and scale up the AZT PROTECT™ business through our partnership with Rockwell Automation and other distributors.\"Fiscal 2025 First Quarter ResultsRevenue for the fiscal 2025 first quarter ended December 31, 2024, increased 2% to $15.7 million compared to revenue of $15.4 million for the fiscal 2024 first quarter ended December 31, 2023. Services revenue represented $4.7 million o...