CSG Reports Q1CSG Reports Q1

Customer care and billing software provider reports revenues of $98.7M and operating income of $20.5M in Q1

April 25, 2007

2 Min Read

ENGLEWOOD, Colo. -- CSG Systems International, Inc.(NASDAQ: CSGS), a leading provider of customer care and billing solutions, today reported results for the quarter ended March 31, 2007.

First Quarter 2007 Highlights:

  • Results from continuing operations were as follows: total revenues were $98.7 million; operating income was $20.5 million; and income from continuing operations was $15.8 million, or $0.35 per diluted share. Income from continuing operations exceeded the high end of CSG’s financial guidance of $0.32-$0.34 per diluted share primarily as a result of a better than expected income tax rate for the quarter and the impact of lower outstanding shares for the quarter due to higher than expected stock repurchases during the quarter. On a combined basis, these two items provided a benefit of approximately $0.02 per diluted share for the first quarter, when compared to CSG’s guidance expectations. Absent the impact of these two items, CSG would have achieved the mid point of its earnings per share guidance for the quarter.

  • Cash flows from operations for the quarter were $35.7 million, which exceeded CSG’s expectations of $20-$22 million for the quarter, primarily due to better than expected changes in working capital as a result of the timing of a large monthly processing payment from a key client coming in before quarterend.

  • For the quarter, CSG repurchased 3.0 million shares of its common stock for $75.4 million (weighted-average price of $25.11 per share) under its stock repurchase program.

  • To date, approximately 90% of CSG’s cable customer accounts have migrated to CSG’s Advanced Convergent Platform, or ACP.



"We are very pleased with our first quarter financial performance. Our continued strong financial results are a testament to CSG’s strong position in the marketplace and the critical, value-added role we play in our clients’ businesses," said Ed Nafus, chief executive officer and president of CSG Systems International, Inc. "We remain very focused on delivering innovative, leading-edge technology to our clients in support of their growth and evolution."

CSG Systems International Inc. (Nasdaq: CSGS)

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