Business
MIND CTI Reports Third Quarter 2021 Results
YOQNEAM, Israel, Nov. 08, 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, Nov. 08, 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 results for its third quarter ended September 30, 2021. The following will summarize our major achievements in the third quarter of 2021, as well as our business. Full 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. Q3 2021 Financial Highlights Revenues were $7.0 million, compared to $5.9 million in the third quarter of 2020, with the increase attributed to the messaging segment.Operating income was $1.7 million, compared to $1.4 million in the third quarter of 2020.Net income was $1.4 million, or $0.07 per share, compared to $1.4 million, or $0.07 per share in the third quarter of 2020.Cash flow from operating activities was $0.6 million, compared to $1.9 million in the third quarter of 2020.One new small win.Cash position was $16.1 million as of September 30, 2021. Nine Months Financial Highlights Revenues were $20.4 million, compared to $17.6 million in the first nine months of 2020, with the increase attributed to the messaging segment.Operating income was $5.2 million, compared to $4.1 million in the first nine months of 2020.Net income was $4.4 million, or $0.22 per share, compared to $4.0 million, or $0.20 per share in the first nine months of 2020.Cash flows from operating activities in the first nine months of 2021 was $4.4 million, compared to $4.2 million in the first nine months of 2020. Monica Iancu, MIND CTI CEO, commented: \"Our business environment remains challenging as described in previous press releases. To succeed in the age of digital services, both carriers and enterprises need fast and agile ways of digital transformation. Our ongoing investment in maintaining up-to-date technology and infrastructure ensures increased security for the customers running our platforms. We understand our customers’ businesses, as well as their needs and challenges. We have the teams and the expertise to provide timely upgrades and customizations required to support our customers in the ...