Press Releases

December 17, 2013 CSP Inc. Reports Fourth-Quarter Fiscal 2013 Financial Results
Board Votes to Increase Quarterly Dividend by 10% Beginning in Q1 FY 2014 Reports on Strategic Progress BILLERICA, Mass., Dec. 17, 2013 (GLOBE NEWSWIRE) - 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 year end fiscal 2013 ended September 30, 2013. The Company also announced that its board of directors has voted to pay its quarterly dividend of $0.10 per share to shareholders of record December 27, 2013 payable January7, 2014. In addition, the board has voted to increase the quarterly dividend by 10%, beginning in the first quarter of fiscal 2014, to $0.11 per share. Management Comments "Fiscal 2013 turned out to be successful for CSP on the strength of the Service and Systems Integration business even though the year initially looked to be challenging due to the tough year-over-year comparisons at our Systems business," said President and Chief...
December 16, 2013 CSPI to Expand Myricom Product Portfolio Company Introduces Myri-10G Product with 10BASE-T
Company Introduces Myri-10G Product with 10GBASE-T Interface Delivering Key Technology Enhancements BILLERICA, MA, December 16, 2013 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced that it is enhancing the Myricom 10 Gigabit Ethernet adapter product line by adding 10GBASE-T support. With this interface, the Myri-10G products can now deliver 10Gigabit/second speeds over a familiar RJ45 Ethernet connector and twisted pair cables for a number of different customer applications. Adoption of 10GBASE-T Ethernet ports had been slow due to their high cost and high power consumption compared to available 10 Gigabit Ethernet (10GbE) alternatives.  However, recent advances in semiconductor technology have dramatically changed both parameters and are now driving strong growth.  According to Crehan Research, 10GBASE-T is the fastest growing 10GbE connectivity solution in data centers and is expected...
December 12, 2013 CSP Inc. Announces Key Executive Management Team Appointments
BILLERICA, Mass., Dec. 12, 2013 (GLOBE NEWSWIRE) - CSP Inc. ( CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced the appointment of two key executives to the organization. Michele Merrell has joined the organization as the Vice President, Global Marketing & Communications across all enterprises including CSP Inc., and its subsidiaries Modcomp, MultiComputer Division, and the company's recently acquired subsidiary, Myricom. In this role, Merrell will have overarching responsibility to lead branding, advertising, public relations, media relations, social media, reputation management, internal and external communications, website development, market development funds and vendor/supplier-related programs, customer engagement and demand generation programs. Most recently, Merrell was the Senior Director, Global Marketing and Communications for Brightstar Corp., a $6.8 billion global distribution, manufacturing and...
December 5, 2013 CSP Inc. to Announce Fourth-Quarter Fiscal 2013 Financial Results on December 17
Company to Webcast Conference Call Live   BILLERICA, MA, December 5, 2013 – 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 year-end fiscal 2013 financial results before the market opens on Tuesday, December 17, 2013. 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 also may 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...
November 6, 2013 CSP, Inc. Broadens MultiComputer Business Opportunities with Asset Purchase of Myricom, Inc.
Gains Technology Critical to CSP’s Latest Generation MultiComputer Products and Strong Base of New Commercial Customers Company Also Retains Key Myricom Personnel and Acquires Inventory for Current MultiComputers BILLERICA, MA, November 6, 2013 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced that it has acquired the assets of Myricom, a pioneer in high-performance computing interconnect technology. The acquisition is expected to be immediately accretive, and Myricom will become a part of CSP, Inc.’s MultiComputer Division.   Terms of the transaction were not disclosed. Through this acquisition, CSP has acquired interconnect technology critical to its latest generation MultiComputer products as well as a strong base of new customers in commercial growth markets. CSP will now be able to offer Myricom’s Myri-10G family of high-performance 10 Gigabit Ethernet adapters and associated Network...
September 11, 2013 CSPI Introduces New Product Line Leveraging Multicore ARM/DSP technology to Deliver Power Efficiency and Accelerate Signal Processing Performance
Billerica, MA, September 11, 2013 -CSP Inc. (NASDAQ: CSPI) MultiComputer Division, a leading supplier of commercially developed rugged embedded computers, introduced its KeyDSP product line today at the IEEE High Performance Extreme Computing Conference (HPEC’13). KeyDSP products feature Texas Instrument’s latest KeyStone II architecture, which integrates multicore ARM® processors with DSP cores as on-chip accelerators to deliver the highest performance at the lowest power level. KeyDSP products incorporate the KeyStone II 66AK2H12 System-on-a-Chip (SoC) based on the 28nm process technology. This SoC integrates four multicore cache-coherent ARM® Cortex™-A15 MPCore™ processors, eight fixed-and floating-point TMS320C66x DSPs, packet processing and Ethernet switching to deliver the computational performance and high speed interconnect needed for mission critical radar, video, and signal processing applications. The first product, KeyDSP V1, is a full height, full length PCIe board...
August 14, 2013 CSPI Selects the Freescale QorIQ Power Architecture
Billerica, MA, August 14, 2013 - CSP Inc. (NASDAQ: CSPI) MultiComputer Division, a leading supplier of commercially developed rugged embedded computers, announced it has selected the Freescale® QorIQ™ Power Architecture® to upgrade its FastCluster platforms . Integrating the new QorIQ™ T Series System-on-a-Chip (SoC) processors into our next generation of FastCluster platforms provides current and new programs with a technology refresh option that improves SWaP performance by a factor two while preserving the software investment made in PowerPC based applications. The QorIQ™ Advanced Multiprocessing (AMP) Series enables seamless migration of applications previously optimized for the 8641D PowerPC with AltiVec™ architecture.  Specifically, CSPI will upgrade their VITA 6U processing blades with T4160 and T4240 processor options. These  processors feature the dual threaded, 64-bit Power Architecture® e6500 core with an integrated AltiVec SIMD engine. A single chip T4240,...
August 7, 2013 CSP Inc. Reports Third-Quarter Fiscal 2013 Financial Results
Announces Dividend of $0.10 Per Share Reports on Strategic Progress BILLERICA, Mass., Aug. 6, 2014 (GLOBE NEWSWIRE) - 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 2014 ended June 30, 2014. The Company also announced that its board of directors has voted to pay its quarterly dividend of $.11 per share to shareholders of record August 21, 2014 payable August 29, 2014. Management Comments "We performed well in the third quarter on the strength of our High-Performance Products & Solutions (HPPS) segment, driven by continued solid Myricom sales as well as royalty revenue from the E-2D," said President and Chief Executive Office Victor Dellovo. "In the HPPS segment, we recorded $1.9 million in royalty revenue related to three E-2D planes. We had already received royalty revenues related to two planes in the first half of the fiscal year, so we have...
July 25, 2013 CSPI Announces Partnership with System Fabric Works Expanding its Product Offering to include Advanced Remote Storage Solutions
Billerica, MA, July 25, 2013 - CSP Inc. (NASDAQ: CSPI) MultiComputer Division, a leading supplier of commercially developed rugged embedded computers, announced today that it has entered into a strategic reseller agreement with System Fabric Works (SFW). The agreement enables the CSPI MultiComputer Division to resell System Fabric Works storage appliances as part of its integrated high performance embedded computing system solutions. “Because today’s intelligence, surveillance and reconnaissance (ISR) applications generate tremendous volumes of sensor data, the need for massive storage devices capable of being accessed in real-time for recording data has become critical to our customers”, said Paul Martino, Director of US Sales, CSPI. “We are pleased to be able to offer these customers a technologically advanced solution that makes it efficient, fast, and cost effective to manage and store all that data.” CSPI platforms featuring Intel® Xeon® multicore processors and an InfiniBand...
July 22, 2013 CSP Inc. Announces Three Board Appointments
New Independent Directors Bring Extensive IT, Operations and Financial Expertise BILLERICA, MA, July 22, 2013 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced that it has appointed  Raymond Charles Blackmon, Robert Bunnett and Marilyn T. Smith to its board of directors, effective today. With the additions to its board, the company replaces former director Christopher J. Hall, who resigned on April 3, 2013, and temporarily expands the board to seven members until February of 2014 when directors Robert M. Williams and J. David Lyons will be required to retire in compliance with the company’s age 75 retirement policy. “These three new independent directors have deep experience in our end markets and provide the board with significant additional expertise in technology, operations and finance,” said Chairman Shelton James. “Charles, Robert and Marilyn each have proven track records of driving...
July 18, 2013 CSP Inc. to Announce Third-Quarter 2013 Financial Results on August 7
BILLERICA, Mass., July 18, 2013 (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 third-quarter fiscal 2013 financial results before the market opens on Wednesday, August 7, 2013. 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 also may 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,...
May 8, 2013 CSP Inc. Reports Second-Quarter Fiscal 2013 Financial Results
Board Raises Quarterly Dividend to $0.10 Per Share From $0.03 Per Share BILLERICA, MA, May 8, 2013 – 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 2013 ended March 31, 2013. The Company also announced that its board of directors has voted to increase its quarterly dividend to $0.10 per share from $0.03 per share beginning with the third -quarter dividend payment.  The dividend is payable June 3, 2013 to shareholders of record May 24, 2013.    Management Comments “We performed well in the second quarter with revenues increasing 36% and net income up 67%,” said Victor Dellovo, CSP Inc. president and chief executive officer.  “All of our top and bottom-line growth came from the Service and Systems Integration segment as our Systems segment continues to experience significant market headwinds.”  “At our Systems segment, revenue...
April 29, 2013 CSP Inc. to Announce Second-Quarter 2013 Financial Results on May 8
BILLERICA, Mass., April 29, 2013 (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 second-quarter 2013 financial results before the market opens on Wednesday, May 8, 2013. 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 in Billerica, Massachusetts and founded in 1968, CSP Inc. and its...
March 4, 2013 CSP Inc. to Institute Quarterly Dividend
BILLERICA, Mass., March 4, 2013 (GLOBE NEWSWIRE) - 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 voted to institute a quarterly dividend of $0.03 per share, beginning with the second quarter of fiscal 2013. On a quarterly basis the Board will set the record date and the payment date for each distribution of the quarterly dividend. The Board also will continue to evaluate the ability to pay a special annual dividend on a yearly basis. "The decision to institute a quarterly dividend to our shareholders reflects the continued strength of our business and the board's commitment to building shareholder value," said President and Chief Executive Officer Victor Dellovo. "We are pleased to have moved from a potential annual special dividend to the commitment of a quarterly dividend as well as the potential for an annual dividend. We look forward to continuing to...
February 13, 2013 CSP Inc. Announces Overwhelming Shareholder Support for Company's Director Nominees at Annual Meeting
BILLERICA, Mass., Feb. 13, 2013 (GLOBE NEWSWIRE) - CSP Inc. ( CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that shareholders overwhelmingly voted for the Company's director nominees at its annual meeting today. Of the votes cast, 89% of shareholders voted for CSP's director nominees to 11% for those put forward by North & Webster. North & Webster announced it was withdrawing its proxy contest today shortly before the annual meeting. "We appreciate the continued support of our shareholders and remain committed to enhancing shareholder value," said CSP Inc. President and Chief Executive Officer Victor Dellovo. "While this proxy contest unfortunately necessitated a high level of management time and significant Company expense, we are pleased with the positive and decisive result." The Company's slate of directors was unanimously supported by the leading proxy advisory firms, Institutional Shareholder Services...
February 11, 2013 CSP Inc. Reports First-Quarter Fiscal 2013 Financial Results
BILLERICA, MA, February 11, 2013 – 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 2013 ended December 31, 2012. Management Comments “Our first-quarter results were within our expectations,” said CSP President & Chief Executive Officer Victor Dellovo.  “Revenue was flat with the first quarter of last year, excluding the negative effect of foreign currency. Growth at the Service and Systems Integration segment offset a decline in revenues at the Systems segment. We reported a three cent profit, which was down from last year due primarily to a lower mix of sales from the Systems business.”   “At our Systems segment, we recorded royalty revenue for the final plane on the purchase order for phases 3 and 4 of the low rate initial production phase of the E-2D advanced Hawkeye intelligence, surveillance and reconnaissance aircraft,” said...
February 7, 2013 Leading Independent Proxy Advisory Firms Recommend CSP Inc. Shareholders Support CSP Inc. Director Nominees
Company Responds to North & Webster BILLERICA, Mass., Feb. 7, 2013 (GLOBE NEWSWIRE) - CSP Inc. (Nasdaq: CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, announced today that two of the U.S. leading independent proxy advisory firms, Glass, Lewis & Co. (Glass Lewis) and Institutional Shareholder Services Inc. (ISS), have recommended that shareholders vote for CSP Inc.'s director nominees at the upcoming annual meeting on the White proxy card. In addition, late yesterday the Board of Directors of CSP Inc. received another unsolicited letter from North & Webster, LLC, which stated that it is prepared to enter into a confidentiality agreement with CSP Inc. in connection with its latest purported offer to acquire the Company. The letter specifies a number of conditions precedent to any such offer. The Company is in the middle of an expensive, time-consuming proxy contest initiated by North & Webster. Contrary to what North...
February 7, 2013 CSP Inc. Responds to Criticisms From Samuel Kidston of North & Webster Opportunities Fund in Letter to Shareholders
Outlines Kidston's Track Record as Chairman of Three Companies Reviews Success of New CSP CEO Victor Dellovo at Service and Systems Integration Business Segment, CSP's Primary Growth Vehicle Requests Shareholders Vote for Company Directors BILLERICA, Mass., Feb. 7, 2013 (GLOBE NEWSWIRE) - CSP Inc. (Nasdaq: CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, has sent a letter to shareholders responding to criticisms from Sam Kidston and reviewing the success of new CSP CEO Victor Dellovo at the Company's Service and Systems Integration business. Dear Fellow CSP Stockholder: We feel obliged to provide you with supplemental information, in response to a letter from Samuel Kidston, of North & Webster Opportunities Fund, which contained criticisms of business acquisitions CSP made years ago, as far back as the year 2000. Please first be aware that the current proxy contest against your Company is being led by Mr. Kidston, who previously...
February 6, 2013 CSP Inc. Urges Shareholders to Vote for the Company's Board of Directors
Reviews Excellent Fiscal 2012 Financial Results Reiterates New Strategy to Capitalize on Market Opportunities Recommends Shareholders Reject Tactics by Small Hedge Fund; Dissident Director Candidates Appear to Possess No Relevant Experience in CSP's Two Primary Segments BILLERICA, Mass., Feb. 6, 2013 (GLOBE NEWSWIRE) - CSP Inc. (Nasdaq: CSPI ), a provider of IT solutions, systems integration services and dense cluster computing systems, has sent a letter to shareholders urging them to vote for the CSP's Board of Directors. Dear Fellow CSP Stockholder: We are requesting your vote for CSP's Board of Directors, for the 2013 Annual Meeting of Stockholders, which has been scheduled for Tuesday, February 12th. There has been a delay in the finalization of your Company's proxy materials, so the time until the annual meeting is extremely short.  PLEASE SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD TODAY, TO HELP ASSURE THE PRESENCE OF A QUORUM, SO THAT CSP's ANNUAL MEETING OF...
February 1, 2013 CSP Inc. to Announce First-Quarter 2013 Financial Results on February 11
BILLERICA, Mass., Feb 1, 2013 (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 first-quarter 2013 financial results after the market closes on Monday, February 11, 2013. CSP President and Chief Executive Officer Victor Dellovo and Chief Financial Officer Gary W. Levine will host a conference call at 5:00 p.m. ET that day 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...

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