Csp Inc Stock Price, News & Analysis

BOSTON, June 06, 2022 (GLOBE NEWSWIRE) -- CSPi announces the launch of its ARIA Zero Trust Gateway, a next-gen network security solution utilizing NVIDIA's BlueField-2 DPU. This security technology is designed to address modern network threats by detecting and stopping attacks in real-time at speeds of 100G. Key features include automated operation, cost-effectiveness, and the capability to operate without impacting data performance. The gateway is set to enhance cybersecurity for network service providers and cloud operators, with availability for purchase starting now.

CSP Inc. (NASDAQ: CSPI) reported its fiscal 2022 second quarter results, showing a 21% increase in services revenue compared to the previous year. Despite a revenue drop to $12.0 million from $14.1 million, gross margin expanded by 4%, leading to profitability of $0.03 per diluted share. The backlog reached a record $17.3 million, more than doubling from $7.8 million a year ago. This includes significant contributions from the Technology Solutions and High-Performance Product segments, indicating strong demand. CSPi plans to leverage its growth strategy and has repurchased shares during the quarter.

CSPi (NASDAQ: CSPI) announced it will release its fiscal second quarter financial results before the market opens on May 11, 2022. CEO Victor Dellovo and CFO Gary W. Levine will host a conference call at 10:00 a.m. ET to discuss the results and provide a business update. Interested parties can access the live webcast from the company's website or join by phone using Conference ID: CSPQ222. CSPi specializes in security, packet capture products, and managed IT services, aiming to enhance technology solutions for its clients.

CSP Inc. (NASDAQ: CSPI) reported strong financial growth in Q1 FY2022, with total revenue rising by 9% to $12.4 million, driven by a 22% increase in services revenue. Despite pandemic-related supply chain issues impacting order fulfillment, gross margins remained stable at 29.2%. The company reported a net loss of $366,000, a decrease from a net income of $1.2 million in Q1 FY2021, primarily due to prior gains from PPP loans. Cash reserves totaled $19.3 million, supporting future growth initiatives, including a re-activated stock repurchase program.

CSPi (NASDAQ: CSPI) will announce its fiscal first quarter financial results on February 9, 2022, before the market opens. The company's President and CEO, Victor Dellovo, along with CFO Gary W. Levine, will conduct a conference call at 10:00 a.m. ET to discuss the results and provide a business update. Interested parties can access the call via a live webcast on CSPi’s website or by phone. The results will provide insights into the company’s performance, impacting financial position and stock evaluation.

CSPi (NASDAQ: CSPI) announced the activation of its previously suspended stock repurchase program, permitting the purchase of up to 194,000 shares of common stock. This decision, made by the Board of Directors, underscores the company's commitment to enhancing shareholder value. Stock repurchases will be conducted at management's discretion over time. CSPi continues to provide innovative technology solutions, including cybersecurity and managed IT services.

CSPi has announced the launch of the Myricom ARC-C TxO, a network interface adapter designed for secure unidirectional data transmission, aimed at preventing cyberattacks. This data diode solution enables one-way data flow from secure to non-secure domains, eliminating risks of malware transfer. Deployed in major public cloud and governmental operations, the TxO is essential for industries like pharmaceuticals and energy where secure data monitoring is critical. The low-power and cost-effective design enhances operational security while maintaining high-speed data transmission.

CSP Inc. (NASDAQ: CSPI) reported its fiscal 2021 Q4 results, revealing a 10 million revenue, down from 14.3 million a year ago. Despite this, the company achieved a record backlog of 13 million, marking a 165% year-over-year increase. Gross margin improved to 41.7% in Q4, up from 31%. Net income from continuing operations rose to $353,000 ($0.08 per share) compared to $36,000 ($0.01 per share) last year. Full year revenue decreased to 49.2 million from 61.8 million, but net income for the year was $699,000 ($0.16 per share), up from a net loss of $1.4 million.

CSPi (NASDAQ: CSPI) will release its fiscal fourth quarter and full-year financial results on December 8, 2021, before market opening. The company's President and CEO, Victor Dellovo, along with CFO Gary W. Levine, will host a conference call at 10:00 a.m. ET to discuss the results and provide a business update. Interested parties can access the live webcast via CSPi's Investor Relations section or listen by phone using the provided conference details.