CSI to Share Highlights from Record-Setting Year with Shareholders
- Company to report progress on strategic initiatives at annual shareholder meeting -
PADUCAH, Ky., June 14, 2012 - Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, released its fiscal 2012 annual report in preparation for its annual shareholder meeting on June 21 in Paducah, Ky. At the meeting, CSI will share information on its record-setting revenue and net income growth, in addition to updates on progress toward the company’s Strategic Growth Initiative (SGI).
For the 12th consecutive year, CSI reported significant yearly revenue growth, experiencing an 8.8% increase to a record $178 million during fiscal 2012. In addition, the company saw yearly net income growth for the 15th consecutive year, reporting a 6.2% increase to a record $25.5 million.
“CSI’s continued financial growth is a result of consistent dedication to expanding our service offerings and technical capabilities while continuing to focus on our customers as the number one priority for our business,” said Steven A. Powless, chief executive officer of CSI. “Recurring revenues accounted for more than 90% of our total revenues in fiscal 2012, highlighting the long-term contracts and high renewal rates we have secured from our core processing customer base.”
CSI also reports continued progress on its Strategic Growth Initiative, which the company launched in early calendar year 2011 to focus on leveraging enterprise-wide opportunities to shape the future of the company and further extend its growth potential moving forward.
“In order to continue with SGI and reposition CSI as a total solutions provider, we unified the company under a new, modern brand and deployed a national branding initiative to integrate messaging for all of our divisions,” said Powless. “The new CSI brand fully encompasses our transformation from the nation’s premier community bank processor to a nationwide provider of technology solutions for financial institutions, offering robust services that include core bank processing, managed services, payments processing, regulatory and compliance, mobile and Internet banking, and print and electronic distribution.”
The shareholder meeting will occur at 9 a.m. CDT on Thursday, June 21. Those interested in attending may participate via either WebEx by clicking here or phone by dialing 866-469-3239, access code 762 454 766. For a copy of CSI’s latest annual report, please click here.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory and compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation in empowering businesses to remain competitive, compliant and profitable. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.