MIND C.T.I. Announces Q4 and Full Year 2015 Fiscal Results

MIND C.T.I. LTD. (NASDAQ: MNDO), a provider of convergent end-to-end prepaid and postpaid billing and customer care product based solutions, has announced its results for the fourth quarter and year ended December 31, 2015.
According to the press release:

Financial Highlights of Q4 2015

• Revenues of $4.8 million, compared to $6.5 million in the fourth quarter of 2014.
• Operating income was $1.4 million, compared to $2.5 million in the fourth quarter of 2014.
• Net income of $1.0 million or $0.06 per share, compared to $1.9 million or $0.10 per share in the fourth quarter of 2014.
• Multiple follow-on orders.

As of December 31, 2015 we had 337 employees, compared to 352 as of December 31, 2014.

• Revenues of $20.9 million, down 16% from $25 million in 2014.

• Operating income was $6.4 million, or 30.6% of revenue, compared to $7.5 million, or 29.8% of revenue, in 2014.

• Net income of $5 million, or $0.26 per share, compared to $5.5 million or $0.29 per share in 2014.

• Cash flow from operating activities was $6.3 million, compared to $3.8 million in 2014.

• Cash position of approximately $19.6 million as of December 31, 2015.

Click here to read the full press release.