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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