Business
MIND CTI Reports Second Quarter 2021 Results
YOQNEAM, Israel, Aug. 10, 2021 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing
About this update from Mind C.t.i. Ltd.
[{"type":"text","content":"YOQNEAM, Israel, Aug. 10, 2021 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced its results for the second quarter ended June 30, 2021. The following will summarize our major achievements in the second quarter of 2021 as well as our business. The financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K. Financial Highlights Revenues of $7.2 million, compared with $5.6 in the second quarter of 2020.Operating income of $1.9 million, or 26% of total revenues, compared with $1.4 million, or 25% of total revenues in the second quarter of 2020.Net income was $1.5 million, or $0.07 per share, compared with $1.4 million, or $0.07 per share in the second quarter of 2020.Cash flow from operating activities in the quarter of $3.2 million, compared with $1.3 million in the second quarter of 2020. Six Month Financial Highlights Revenues of $13.3 million, compared with $11.6 million in the first six months of 2020, with the increase attributed to the messaging segment.Operating income of $3.5 million, or 26% of total revenues, compared with $2.7 million or 23% of total revenues in the first six months of 2020.Net income of $3.0 million, or $0.15 per share, compared with $2.6 million, or $0.13 per share in the first six months of 2020.Cash flow from operating activities in the first six months of 2021 was $3.8 million, compared with $2.3 million in the first six months of 2020. Monica Iancu, MIND CTI CEO, commented: “Our messaging segment was favorably impacted by singular campaigns carried out by a few customers. This unprecedented growth in our messaging segment is temporary in nature. At the same time, our telecom markets continue to be challenging, with low demand and strong competition. The messaging markets, unlike our traditional ones, are difficult to predict, as external factors have a strong impact on both revenues and margins. As the proportion of messaging business out of our total revenue increases, we expect our business results to present higher volatility in revenue, margins, an...