| Over a month ago | ||||
Reported Q1 revenue… Reported Q1 revenue $18.3M vs. $12.4M last year. "The continued migration of our business to offer differentiated, higher value cybersecurity, wireless and managed services offerings, is propelling our growth," commented Victor Dellovo, CEO. "We have now reported consecutive quarters of revenue growth in excess of 40% as the demand for our award-winning products and services builds and we are able to execute deliveries and installations. During the first quarter, we converted approximately $3.2 million of backlog to revenue while at the same time added approximately $2.9 million in new orders. We are increasing our business from existing customers while adding new customers and while the timing of potential orders is subject to movement from quarter to quarter, our business pipeline continues to be robust. Our Technology Solutions business continued to grow during the first quarter. At the same time, our High-Performance Products business revenue more than doubled compared to the year ago first quarter. This growth was primarily due to a sizeable customer engagement in the 2023 fiscal first quarter, and we are cautiously optimistic the HPP business will be a growing contributor as the fiscal year progresses. Our business, and the opportunity pipeline we have in front of us, is stronger today than at any time in our Company's history. Our strategy, combined with our financial resources provides us with the opportunity to provide our customers with attractive financing that contributes to our profitability. These transactions position CSPi to generate increased levels of future cash flow while we enhance our relationship with customers and provide us future growth opportunities." | ||||
| Over a quarter ago | ||||
Reports Q4 revenue $16.7M… Reports Q4 revenue $16.7M vs. $10M last year. "Our team, and our operations, achieved exceptional results during our fiscal fourth quarter. The TS business segment hit on all cylinders during the period demonstrating the strength of the CSPi product and services offerings," commented Victor Dellovo, Chief Executive Officer. "I can say, unequivocally, we are executing our plan in every operating division, allowing us to achieve significant revenue growth of 67% for the fiscal fourth quarter compared to the year-ago fourth quarter. The rising momentum, when combined with our sizeable backlog of $23.2 million, renews our optimism and gives us confidence we can achieve even greater success in fiscal 2023. Our 67% revenue growth during the quarter was driven by the strength of the TS business and its Managed Services practice. The momentum generated in the fourth quarter has continued, to date, into our fiscal first quarter. We are winning new customers while, at the same time, continue to increase business from existing customers. The High-Performance Products (HPP) business is entering a phase of increased interest and activity. I believe fiscal 2023 is going to be an exciting year for this division. While supply chain issues continue to challenge the revenue growth of our TS and HPP businesses, we have successfully managed these issues and converted a substantial portion of our backlog to revenue during the quarter. At the same time, our new business pipeline continued to build, and we finished with a near record backlog at the end of our fiscal year. As a result of this transaction, as well as others either signed or nearing execution, we expect our fourth quarter momentum to continue during the first half of fiscal 2023 and are cautiously optimistic that the entire year will lead to growth over fiscal 2022." | ||||
The Company announced… The Company announced that its Board of Directors has reinstated and declared a quarterly dividend of $0.03 per share, payable on September 9, 2022, to CSPi shareholders of record on the close of business on August 22, 2022 | ||||
Reports Q3 revenue $13.3M… Reports Q3 revenue $13.3M vs. $13.7M last year. "The business momentum established over the past few quarters for our high margin products and services has continued in fiscal Q3. We have a record backlog of $23.8 million for products and services," said Victor Dellovo, Chief Executive Officer. "Despite the Technology Solutions business converting some of its older backlog into revenue, we still expanded overall backlog by $6.5 million from the fiscal second quarter. Within the TS business, we successfully transitioned sales leads into orders so the TS backlog grew by $5.8 million and now represents $19.8 million as of June 30, 2022. Our Managed Services Practice (MSP), which has not been hindered by the supply chain issues impacting our other revenue streams, is generating significant growth and remains a reliable source of recurring revenue from both new and existing customers. The High-Performance Products business, which reported modest revenue in fiscal Q3 and will likely report similar results in fiscal Q4, is nonetheless positioned for success during fiscal 2023 and the ARIA opportunity pipeline strengthens from quarter to quarter. We also believe the HPP backlog of $4 million, when converted to revenue, is going to be a disproportionate contributor to our bottom-line during the next fiscal year. The supply chain and inflationary issues constraining our business growth are not expected to change in the near-term, so our goal is to maximize the performance of our services segment while we continue to grow our backlog for our products' segments. With the Board feeling more confident we have the resources to execute our strategy, we reinstated the quarterly dividend to return cash to CSPi's shareholders." | ||||
ARIA Cybersecurity… ARIA Cybersecurity Solutions announces its ARIA Zero Trust Gateway, a next-generation network security solution focused on automated 100G Network Response accelerated by the NVIDIA BlueField-2 DPU. Network Service Providers and Cloud Operators asked for a better approach than a firewall/IPS to solve today's network security requirements. They need to stop a wider array of network attacks immediately, as soon as detected, at today's 100G network line rates. Key capabilities of the solution include: Runs in-line at 100G as well as 10 and 25 G speeds; Finds and stops network attacks and data exfiltration in real-time ; Runs fully automated ; Does not impact customer data performance or service SLAs ; Lowers the cost per protected packet by up to 10x; Lowers the cost per packet watt by up to 10x vs alternatives ; Lower the rack footprint by up to 10x | ||||
Reports Q2 revenue… Reports Q2 revenue $11.98M vs. $14.01M last year. | ||||
