CSP Inc. reports Q2 EPS (1c) vs. 16c last year

Reports Q1 revenue $13.2M vs. $13.7M last year. “Excluding a single, multi-million-dollar deal recorded in the year-ago fiscal second quarter, our business generated double-digit sales growth in the fiscal second quarter compared to the year-ago period,” commented Victor Dellovo, Chief Executive Officer. “The prior year multi-million-dollar sale has proven to be successful resulting in the customer renewing customer support for twelve months in a six-figure contract during the fiscal second quarter. Despite challenging operating conditions, we’re pleased with the overall performance of the Technology Solutions-based businesses and the market penetration of our AZT PROTECT product line. The flexibility of our organization, and the prospects for AZT PROTECT growth enable our company to maximize our opportunities in the current operating environment. During the quarter, our reseller and distribution-focused strategy resulted in an increase in new AZT PROTECT customers and an expanded pipeline of new business opportunities. Launching a revolutionary new product requires significant investment, which we have been diligently making while carefully managing our resources. Nearly two years into the launch, we are where we thought we would be, our brand is more widely known, and we are gaining traction with key manufacturers, resellers and customers. In addition to the new customers signed in the fiscal second quarter, in April we were engaged to protect equipment at one of the largest cell tower providers in South Africa. This relationship, along with several other previously signed customers, have the potential to significantly expand into larger, six and seven figure contracts over the next eighteen months to two years.”