CSG Back in Black for 3Q10/25/2004 10:12 AM Eastern
CSG Systems International Inc. posted a third-quarter net-income gain after a loss in the year-ago period.
The billing-services vendor said Monday that net income presented under generally accepted accounting principles was $16.3 million, or $0.32 per diluted share, versus a GAAP net loss of $53.8 million ($1.05) in the third quarter of 2003.
The current-year figure includes a positive impact of approximately $0.08 per diluted share -- foreign-currency-transaction gains of $0.02 and $0.06 due to a decrease in CSG's estimated 2004 effective income-tax rate.
CSG’s third-quarter-2003 results were reduced by a $119.6 million charge for an arbitration ruling in favor of Comcast Corp. and by $3.5 million in restructuring charges, or $1.33 per diluted share in total.
The company posted total revenue of $133.1 million during the quarter.