Press Releases

December 13, 2012 CSP Inc. Reports Fourth-Quarter and Year-End Fiscal 2012 Financial Results
BILLERICA, MA, December 13, 2012 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the fourth quarter and fiscal year 2012 ended September 30, 2012. Fourth-Quarter and Fiscal 2012 Financial Highlights Revenue increases 35% to $22.3M for Q4 and grows 15% to $84.8M for fiscal 2012 Gross margin increases to 25% for Q4 2012 from 24% for Q4 2011; Climbs to 24% for fiscal 2012 from 22% in fiscal 2011 Tax benefit of $2.6 million for Q4  due primarily  to the  reversal of $3.0 million of valuation allowance for the deferred tax asset  Net income at $4.9 million for Q4 2012 compared with net loss of $92,thousand a year ago; Full year net income increases 1690% to $6.6 million from $369 thousand in fiscal 2011 Cash increases by $4.6 million from year-end 2011 to $20.5 million Company declares special annual dividend of $0.20 per share Management Comments “We concluded...
December 10, 2012 CSP Inc. Declares Annual Dividend (December 2012)
BILLERICA, MA, December 10, 2012 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced that the Company’s Board of Directors has declared an annual dividend of $0.20 per share payable on December 28, 2012 to shareholders of record on December 20, 2012. “As a result of the continued strength in our business this past year, we are rewarding our shareholders with a second consecutive annual dividend,” said President and Chief Executive Officer Victor Dellovo. “The Board is committed to building long-term shareholder value and will continue to evaluate the best uses of cash, including dividends, stock repurchases and investments in strategic growth initiatives on a regular basis.” About CSP Inc. Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its subsidiaries develop and market best-of-breed IT solutions, systems integration services, and high-performance computer systems.  CSP’s...
December 5, 2012 CSP Inc. to Announce Fourth-Quarter and Fiscal Year 2012 Financial Results on December 13
Company to Webcast Conference Call Live BILLERICA, Mass., Dec. 5, 2012 (GLOBE NEWSWIRE) - CSP Inc. (Nasdaq: CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that it will issue its fourth-quarter and fiscal year 2012 financial results before the market opens on Thursday, December 13, 2012. CSP President and Chief Executive Officer Victor Dellovo and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. ET that morning to review the financial results and provide a business update. To listen to a live webcast of the call, please visit the "Investor Relations" section of the Company's website at www.cspi.com. Individuals may also listen to the call via telephone, by dialing (877) 407-5790 or (201) 689-8328. For interested parties unable to participate in the live call, an archived replay of the webcast will be available for approximately one year on CSP's website.  About CSP Inc. Based...
October 2, 2012 Lynn University Selects Modcomp to Deploy Cisco-based Voice and Data Communications Solutions for Final Presidential Debate on October 22, 2012
Boca Raton, FL – 02 October 2012 – Deerfield, Florida-based Modcomp was chosen by Lynn University to help it meet the stringent requirements from the Commission of the Presidential Debate (CPD) to provide a completely separate and highly secure environment for all data and voice communications during the final Presidential Debate, which takes place on the Lynn University campus October 22. The debate will be moderated by Chief Washington Correspondent, CBSNews, and Moderator, Face the Nation, Bob Schieffer. The CPD has a long list of complex provisions that need to accommodated; for example, no existing equipment can be used for either voice or data infrastructures. Consequently, Lynn University knew it needed to find a partner not only to handle these rigorous and necessary security requirements for the debate, but one that could take the equipment and technology the University purchased and, after the debate, repurpose it to replace its existing network infrastructure, then add any...
September 4, 2012 CSP Inc. Announces Board Approval of CEO Succession Plan
Victor Dellovo Appointed Permanent President & CEO; Shelton James Becomes Chairman BILLERICA, MA, September 4, 2012 - CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced its Board of Directors has approved a succession plan for former Chairman, President and Chief Executive Officer Alexander R. Lupinetti, who passed away suddenly late last month. Victor Dellovo, 43, who was appointed Interim President and CEO on August 20, 2012, will assume those roles on a permanent basis and he was also appointed as a member of the Board of Directors. C. Shelton (Shelly) James, 72, a Director of CSPI since 1994, has been appointed Chairman of the Board of Directors. "Victor was our clear choice as CEO, and as the longest tenured member of our board, Shelly was an equally clear choice to assume the responsibilities of Chairman," said CSP Director Chris Hall. "Both Victor and Shelly possess a deeply-rooted...
August 20, 2012 CSP Inc. Mourns Passing of Chairman & CEO Alexander R. Lupinetti
MODCOMP President Victor Dellovo Appointed Interim President and CEO of CSP Inc. BILLERICA, MA, August 20, 2012 - CSP Inc. (NASDAQ: CSPI) today announced with great sorrow the sudden passing of Chairman, President and Chief Executive Officer Alexander R. Lupinetti, 67. Victor Dellovo, 43, president of the Company’s Modcomp subsidiary, has been appointed by the Board of Directors as CSP’s Interim President and CEO. The Board has not yet appointed a successor Chairman. Alex Lupinetti had been Chief Executive Officer and President of CSP Inc. since October 1996. He had also been a Director of the Company since that time, and had served as Chairman since January 1998. “During his 16 years as CSP’s president and CEO, Alex transformed CSP from a single-product organization to a much larger company with wide-ranging sales opportunities and the potential for accelerated profitable growth,” said CSP Director C. Shelton James. “We are forever indebted to Alex for his commitment and dedication...
August 8, 2012 CSP Inc. Declares Special Dividend
The Board of Directors of CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that the Company has declared a special dividend of $0.12 per share payable on August 31 to shareholders of record on August 23. “At the conclusion of fiscal 2012, the board will evaluate CSP’s financial performance, balance sheet strength and working capital requirements to determine the amount of an annual cash dividend, if any. Going forward, we will regularly evaluate the best use of capital to build long-term shareholder value.” The Board determined that it would declare the special cash dividend based on CSP’s strong balance sheet and financial condition, and considering the Company’s current working capital needs and potential investments in strategic growth opportunities. “We are pleased to reward our shareholders with this special dividend as a result of our excellent performance thus far in fiscal 2012 and our strong...
August 8, 2012 CSP Inc. Reports Third-Quarter Fiscal 2012 Financial Results
BILLERICA, MA, August 8, 2012 - CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the third quarter of fiscal 2012 ended June 30, 2012. For the third quarter of fiscal 2012, total sales increased 19% to $22.4 million from $18.8 million for the third quarter of 2011. For the nine-month period, sales grew 10% to $62.5 million from $57 million in the year-earlier period. Gross margin for the third quarter of fiscal 2012 increased to 23% compared with 19% in the third quarter a year ago. The year-over-year increase in gross margin was the result of greater Systems segment royalty revenue. Gross margin increased to 24% in the first nine months of fiscal 2012 from 22% in the same period of fiscal 2011. Net income for the third quarter of fiscal 2012 increased to $758,000, or $0.22 per diluted share, compared with a net loss of $211,000, or $0.06 per share, in the third quarter of fiscal...
July 31, 2012 CSP Inc. to Announce Third-Quarter 2012 Financial Results on Aug 8
Company to Webcast Conference Call Live CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that it will issue its third-quarter fiscal 2012 financial results before the market opens on Wednesday, August 8, 2012. CSP Chairman and Chief Executive Officer Alexander R. Lupinetti and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. ET that morning to review the financial results and provide a business update. To listen to a live webcast of the call, please visit the “ Investor Relations ” section of the Company’s website at www.cspi.com . Individuals may also listen to the call via telephone, by dialing (877) 407-5790 or (201) 689-8328. For interested parties unable to participate in the live call, an archived replay of the webcast will be available for approximately one year on CSP’s website. About CSP Inc. Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its...
May 9, 2012 CSP Inc. Reports Second-Quarter Fiscal 2012 Financial Results
CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the second quarter of fiscal 2012 ended March 31, 2012. “We reported another quarter of solid financial results as we leveraged 8% growth in sales for the second quarter into a 55% increase in net income” For the second quarter of fiscal 2012, total sales increased 8% to $19.0 million from $17.6 million for the second quarter of 2011. For the six-month period, sales grew 5% to $40.1 million from $38.3 million in the year-earlier period. Gross margin for the second quarter of fiscal 2012 increased to 24.8% compared with 24.1% in the second quarter a year ago. The year-over-year increase in gross margin was the result of greater Systems segment royalty revenue. Gross margin increased to 23.8% in the first six months of fiscal 2012 from 22.9% in the same period of fiscal 2011. Net income for the second quarter of fiscal 2012 increased...
May 2, 2012 CSP Inc. to Announce Second-Quarter 2012 Financial Results on May 9
Company to Webcast Conference Call Live CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that it will issue its second-quarter fiscal 2012 financial results before the market opens on Wednesday, May 9, 2012. CSP Chairman and Chief Executive Officer Alexander R. Lupinetti and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. ET that morning to review the financial results and provide a business update. To listen to a live webcast of the call, please visit the “ Investor Relations ” section of the Company’s website at www.cspi.com . Individuals may also listen to the call via telephone, by dialing (877) 709-8155 or (201) 689-8881. For interested parties unable to participate in the live call, an archived replay of the webcast will be available for approximately one year on CSP’s website. About CSP Inc. Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its...
February 8, 2012 CSP Inc. Reports First-Quarter Fiscal 2012 Financial Results
CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the first quarter of fiscal 2012 ended December 31, 2011. “During the quarter, our Systems segment shipped a $700,000 order for FastCluster 3000 Series multicomputers to an international sonar customer” For the first quarter of fiscal 2012, total sales increased to $21.1 million compared with $20.6 million for the first quarter of 2011. Gross margin for the first quarter of fiscal 2012 increased to 23.0% compared with 22.0% in the first quarter a year ago. The year-over-year increase in gross margin was the result of a greater mix of higher-margin consulting as well as solutions and managed service business, partially offset by less Systems royalty revenues. Net income for the first quarter of fiscal 2012 increased to $461 thousand, or $0.13 per diluted share, compared with net income of $389 thousand or $0.11 per diluted share, in...
February 2, 2012 CSP Inc. to Announce First-Quarter 2012 Financial Results on February 8
Company to Webcast Conference Call Live CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that it will issue its first-quarter fiscal 2012 financial results before the market opens on Wednesday, February 8, 2012. CSP Chairman and Chief Executive Officer Alexander R. Lupinetti and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. ET that morning to review the financial results and provide a business update. To listen to a live webcast of the call, please visit the “ Investor Relations ” section of the Company’s website at www.cspi.com . Individuals may also listen to the call via telephone, by dialing (877) 709-8155 or (201) 689-8881. For interested parties unable to participate in the live call, an archived replay of the webcast will be available for one year on CSP’s website. About CSP Inc. Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its subsidiaries...
January 12, 2012 CSP Inc. Declares Annual Dividend
The Board of Directors of CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that the Company has declared an annual dividend of $0.10 per share payable on February 3,2012 to shareholders of record on January 27,2012. The Board determined that it would declare the cash dividend based on CSP’s strong balance sheet and financial condition, and considering the Company’s current working capital needs and potential investments in strategic growth opportunities. CSP reported total cash and cash equivalents of $15.9 million at September 30, 2011. “We are pleased to extend this dividend to our shareholders,” said Chairman and Chief Executive Officer Alexander R. Lupinetti. “Going forward, the Board intends to review CSP’s financial performance, balance sheet strength and working capital requirements each year to determine the amount of the annual cash dividend, if any. The Board is committed to building long-term...
January 12, 2012 CSP Inc. Reports Fourth-Quarter and Year-End Fiscal 2011 Financial Results
CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today reported financial results for the fourth quarter of fiscal 2011 ended September 30, 2011. For the fourth quarter of fiscal 2011, total sales were $16.6 million compared with $22.4 million for the fourth quarter of 2010. For the full year, sales were $73.6 million compared with $90.1 million for fiscal 2010. Gross profit for the fourth quarter of fiscal 2011 was 23.9% compared with 20.4% in the fourth quarter a year ago. For the full year, gross profit was 22.2% compared with 19.1% in fiscal 2010. The year-over-year increases for both the quarter and year were primarily the result of reduced lower-margin revenue from a large hosting customer, and a greater mix of higher-margin consulting as well as solutions and managed service business. Net loss for the fourth quarter of fiscal 2011 was $92 thousand, or $0.03 per share, compared with net income of $46 thousand...
January 9, 2012 CSP Inc. to Announce Fourth-Quarter and Fiscal-Year 2011 Financial Results on January 12
Company to Webcast Conference Call Live January 09, 2012 10:30 AM Eastern Standard Time CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that it will issue its fourth-quarter and fiscal-year 2011 financial results before the market opens on Thursday, January 12, 2012. CSP Chairman and Chief Executive Officer Alexander R. Lupinetti and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. ET that morning to review the financial results and provide a business update. To listen to a live webcast of the call, please visit the “ Investor Relations ” section of the Company’s website at www.cspi.com . Individuals may also listen to the call via telephone, by dialing (877) 709-8155 or (201) 689-8881. For interested parties unable to participate in the live call, an archived replay of the webcast will be available for one year on CSP’s website. About CSP Inc. Based in Billerica,...

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