The Kentucky Bankers Association (KBA) recently endorsed Web@Work Board Portal and Employee Portal services provided by Computer Services, Inc. (CSI) (OTCQX: CSVI), a leading provider of innovative banking technologies and eBusiness services.
The KBA endorsed Web@Work Board Portal and Employee Portal services because of the tremendous feedback the association received from current users.
“Several KBA members are currently using CSI’s Web@Work portal services because of the constant need to enhance technology in the workplace and provide secure documents for board meetings,” said Selina Parrish, KBA Director of Membership. “KBA is excited to implement Web@Work internally to realize all the benefits the services offer.”
In addition to discovering the benefits first-hand, the association plans to promote Web@Work Board Portal and Employee Portal services to members not currently taking advantage of CSI’s services.
“KBA offers its members a list of elite vendors that go through our due diligence process to ensure that the best vendor is selected for a specific product,” explained Parrish. “KBA’s endorsement of Web@Work lets our members know that CSI is a best-in-class provider of portal services.”
CSI released its Web@Work Employee Portal in 1998. Since its introduction, the service has continued to grow with the addition of time and attendance features, automatic policy management, electronic forms, task management and most recently a custom database creation capability. In 2009, CSI announced the release of its Web@Work Board Portal, a service banks use to replace hefty paper-based board packets with electronic documents. Board members can access this secure Web site, called a board portal, to access current and archived materials anytime and anywhere.
According to CSI Director of Business Development Bill Evers, CSI is honored by the KBA’s endorsement. “CSI’s Web@Work Portal provides dynamic tools to bankers that increase efficiencies and ensure the secure delivery of confidential documents,” said Evers. “We are proud that the KBA understands the value CSI’s portal solutions deliver, and we are eager to offer these services to the KBA and its members.”
Thursday, January 20, 2011
Friday, January 7, 2011
CSI Reports Record Results for Third Quarter Fiscal 2011
Computer Services, Inc. (CSI) (OTCQX: CSVI) today reported record results for the third quarter and nine months ended November 30, 2010.
Third quarter revenues rose 5.2% to $40.2 million in fiscal 2011 compared with $38.2 million in the third quarter of fiscal 2010. Net income rose 17.7% to $5.7 million, and net income per diluted share increased 21.9% to $0.39 compared with the prior year’s third quarter.
“CSI's third quarter of this fiscal year represented our 27th consecutive quarter of revenue growth,” stated President and Chief Executive Officer Steven A. Powless. “Our continued string of record results is due to the strength of our recurring revenue base and the largely non-discretionary nature of our products and services.
“Our continued growth in revenues benefited from internal growth across major product lines and to the contribution of the MSI (Myriad Systems) acquisition completed as of October 1, 2009. The internal growth was primarily driven by sales to new customers, cross-sales to existing customers and increases in transaction volumes. Our pipeline for new sales remains solid due to increased customer interest for key products and services, including cross-sales of MSI’s print and mail services, and its online document delivery solutions,” continued Mr. Powless.
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Third quarter revenues rose 5.2% to $40.2 million in fiscal 2011 compared with $38.2 million in the third quarter of fiscal 2010. Net income rose 17.7% to $5.7 million, and net income per diluted share increased 21.9% to $0.39 compared with the prior year’s third quarter.
“CSI's third quarter of this fiscal year represented our 27th consecutive quarter of revenue growth,” stated President and Chief Executive Officer Steven A. Powless. “Our continued string of record results is due to the strength of our recurring revenue base and the largely non-discretionary nature of our products and services.
“Our continued growth in revenues benefited from internal growth across major product lines and to the contribution of the MSI (Myriad Systems) acquisition completed as of October 1, 2009. The internal growth was primarily driven by sales to new customers, cross-sales to existing customers and increases in transaction volumes. Our pipeline for new sales remains solid due to increased customer interest for key products and services, including cross-sales of MSI’s print and mail services, and its online document delivery solutions,” continued Mr. Powless.
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Thursday, January 6, 2011
CSI Board Authorizes $5 Million Addition to Share Repurchase Program
Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors, at its December meeting, authorized a $5 million increase in the Company’s share repurchase program. The Company also announced that it paid a quarterly cash dividend of $0.11 per share on December 24, 2010, to shareholders of record on December 1, 2010.
“CSI’s Board of Directors approved the repurchase of an additional $5.0 million in company stock, highlighting its confidence in the future of our Company,” stated President and Chief Executive Officer Steven A. Powless. “We remain very positive about the future for CSI and the opportunities to leverage our strong financial position through this stock repurchase program.”
The additional authorization brings the total to $55 million since CSI’s share repurchase program was initially announced in March 2004. CSI has repurchased Company shares having a purchase price of approximately $48.2 million through the end of its third fiscal quarter ended November 30, 2010. CSI then had approximately $1.8 million of availability under its previous stock repurchase authorizations before the additional authorization of $5 million in December.
The stock repurchase program will be conducted on an ongoing basis and will be subject to availability of stock, market conditions, the trading price of the stock and the Company’s financial performance.
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“CSI’s Board of Directors approved the repurchase of an additional $5.0 million in company stock, highlighting its confidence in the future of our Company,” stated President and Chief Executive Officer Steven A. Powless. “We remain very positive about the future for CSI and the opportunities to leverage our strong financial position through this stock repurchase program.”
The additional authorization brings the total to $55 million since CSI’s share repurchase program was initially announced in March 2004. CSI has repurchased Company shares having a purchase price of approximately $48.2 million through the end of its third fiscal quarter ended November 30, 2010. CSI then had approximately $1.8 million of availability under its previous stock repurchase authorizations before the additional authorization of $5 million in December.
The stock repurchase program will be conducted on an ongoing basis and will be subject to availability of stock, market conditions, the trading price of the stock and the Company’s financial performance.
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