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MIND CTI Reports Results for Q3 2012
By: Marketwire .
Nov. 6, 2012 10:45 AM
YOQNEAM, ISRAEL -- (Marketwire) -- 11/06/12 -- MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions, today announced results for the third quarter of 2012.
The following will summarize our business in the third quarter of 2012 and provide a more detailed review of the financial results for the quarter. Full financial results can be found in the Investors section www.mindcti.com/investor/PressReleases.asp and in our Form 6-K.
Revenue Distribution for Q3 2012
Revenue from customer care and billing software totaled $3.58 million, while revenue from enterprise call accounting software was $1.13 million.
Revenue from licenses was $1.1 million, or 23.2% of total revenue, while revenue from maintenance and additional services was $3.61 million, or 76.8%.
Monica Iancu, MIND CEO, commented: "As we previously announced, mainly due to consolidation of platforms at existing customers, some agreements were not renewed in 2012 and we feel the negative impact on our revenues and profitability.
As we support a more comprehensive functionality, our projects become more complex and the risk of on-time and on-budget implementation increases. The customers that implement larger size deals conduct lengthy and complex processes and our cost increases as the length of the complete process increases. We need to support each opportunity during the time required for the customer to determine their specifications and the time required for the customer to build up their network infrastructure and of course through the deployment and the first few months after going live. At the same time, competition is intense and the pricing for each project needs to be modest in order to win.
As always we focus on our targets: satisfied customers, successful project implementations, winning new business and profitability."
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.
Follow MIND on Twitter: http://twitter.com/mindcti
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