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Computer Services, Inc. (CSVI.PK) Reports Record Revenue and Net Income In First Quarter

Computer Services, Inc. reported net income of $5.3 million, or $0.36 per diluted share, in the first quarter of fiscal 2011, ending 5/31/2010. The company earned net income of $5.0 million, or $0.33 per diluted share, in the first quarter of fiscal 2010.

Reported sales also rose on a year over year basis in the first quarter of fiscal 2011. Computer Services, Inc. reported sales of $39.7 million in the recently ended quarter, compared to $36.8 million in the corresponding quarter in fiscal 2010.

The management of Computer Services, Inc. said that both sales and net income in the first quarter of fiscal 2011 were the highest ever recorded for the company, and continued a streak of revenue growth going back more than six years.

“CSI’s continued growth in the first quarter benefited from higher core processing revenues and the October 2009 acquisition of Myriad Systems. This was our 25th consecutive quarter of revenue growth and highlights the benefits of our long-term customer contracts and high retention rates,” said Steven A. Powless, the CEO of Computer Services, Inc.

Computer Services, Inc. is headquartered in Paducah, Kentucky. The company was founded in 1965, and provides software and services to financial companies including payment processing, fraud identification and prevention, and network management.

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