Capital market sources: The order will probably grow.
Capital market sources believe that Mind CTI (Nasdaq:MNDO; TASE:MNDO) won a large order on Friday. The order reportedly totals several million dollars over two to three years, and might increase further over the following years.
Mind CTI develops and sells software billing and customer resource management (CRM) systems, mostly for Internet Protocol (IP) based communications networks.
Mind CTI president and CEO Monica Eisinger declined to comment about the order, but said that despite developments in the company's markets, it was nevertheless able to grow, mainly because of positive trends in the billing sector. She said the company's orders reflected this trend.
Mind CTI published a good financial report for the second quarter of 2004 last month. It posted an operating profit of $750,000 on $4.3 million in revenue, compared with an operating profit $600,000 on $4 million in revenue in the first quarter. Mind CTI posted a net profit of $1.6 million in the second quarter, up from $1.3 million in the first.
Published by Globes [online] - www.globes.co.il - on August 8, 2004