MIND CTI’s Revenue Bolstered by Message Mobile GmbH Acquisition

MIND CTI (NASDAQ:MNDO), communications analytics and billing company reported a 32.7 percent increase in revenue for the quarter compared to the same time frame last year. MIND acquired Message Mobile GmbH, an enterprise messaging company which helped drive quarterly revenues by US$1.9 million.

As quoted in the press release:

Financial Highlights

• Revenues were $6.0 million, a 32.7% increase when compared with $4.6 in the second quarter of 2018, with the increase attributed to the acquisition of Message Mobile GmbH in March 2019, which generated revenues of approximately $1.9 million during the quarter.

• Operating income was $1.0 million, or 17.2% of total revenues, compared with $1.3 million, or 28.4% of total revenues in the second quarter of 2018, with the decrease in operating income margin primarily reflecting the lower margins in the acquired business.

• Net income was $1.0 million, or $0.05 per share, compared with $1.2 million, or $0.06 per share in the second quarter of 2018.

• Cash flow from operating activities in the quarter was $1.1 million, compared with $0.9 million in the second quarter of 2018.

Click here to read the full press release.