GREENWOOD VILLAGE, Colo. -- CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, today reported results for the quarter and year ended December 31, 2019. Financial Results:
Fourth quarter 2019 financial results:
Total revenues were $254.7 million and total non-GAAP adjusted revenues were $236.9 million. GAAP operating income was $30.3 million, or 11.9% of total revenues, and non-GAAP operating income was $41.5 million, or 17.5% of non-GAAP adjusted revenues.
GAAP earnings per diluted share (EPS) was $0.70 and non-GAAP EPS was $0.98. Cash flows from operations were $43.5 million, with non-GAAP free cash flow of $33.9 million.
Full year 2019 financial results:
Total revenues grew 14% year-over-year to a record high of $996.8 million and non-GAAP adjusted revenues were $927.7 million.
GAAP operating income was $126.1 million, or 12.7% of total revenues, and non-GAAP operating income was $165.7 million, or 17.9% of non-GAAP adjusted revenues. GAAP EPS was $2.55 and non-GAAP EPS was $3.53.
Cash flows from operations were $151.1 million, with non-GAAP free cash flow of $113.8 million.
In December 2019, CSG entered into a five-year extension with Comcast, extending its partnership through December 31, 2025, as the provider of billing services for Comcast's residential broadband, video, home, and voice customers.
On January 2, 2020, CSG acquired certain assets of Tekzenit, Inc., based in Dallas, Texas, that provides strategy, design engineering, and technology enablement to improve client experiences across all communication channels, for approximately $10 million.