CSP Reports Fourth Quarter Financial Results

CSP Inc. (NASDAQ:CSPI), cybersecurity company reported fourth quarter financial results with sales reaching US$22.1 million for the quarter, up from US$19.6 million during the same time last year. Net losses for the company were US$334 million while the company rolled out its ARIA software-defined solution.

As quoted in the press release:

The Company also announced that its board of directors has voted to pay a quarterly dividend of $0.15 per share to shareholders of record on December 31, 2019, payable on January 15, 2020.

“We had a solid year end and I believe our goal to transform CSPi to a cybersecurity and wireless managed services company is coming to fruition and we are well-positioned to achieve our near and long-term objectives,” commented Victor Dellovo, Chief Executive Officer.  “I am pleased with the initial roll-out of our ARIA™ Software-defined Security (SDS) solution and we are highly encouraged by the customer feedback.  Their positive experience validates CSPi’s vision and our efforts to increase the direct sales capabilities for ARIA will allow us to maintain this momentum.  Additionally, I believe the recent acknowledgement from CyberDefense Magazine, the premier source of IT security information, will create new revenue opportunities as in-bound requests have increased. We entered fiscal 2020 with a strong tailwind and this success gives me greater confidence that we will continue to execute our goals to further develop applications and enhance the performance of ARIA to drive customer adoption.  I also believe we are in a much stronger position today to deliver significant revenue growth and increased profitability, not only this year, but in the years to come.”

Click here to read the full press release.