Kenan Boosts CSG Revenue

Author:
Publish date:
Updated on

CSG Systems International Inc. reported higher second-quarter revenue but
lower adjusted net income stemming from a decline in software and services
revenue in its broadband-services division.

CSG said revenues hit $169.7 million in the quarter, a 41 percent increase
over last year's $120.1 million. Last year's quarter, however, did not include
results from the Kenan Systems Corp. division acquired from Lucent
Technologies.

The company posted adjusted net income of $21.3 million, a 25 percent drop
from last year's $28.5 million.

In addition to the revenue slowdown, CSG said costs associated with
litigation and arbitration issues with AT&T Broadband and Comcast Corp. also
cut into net income.

Related