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MIND C.T.I.(MNDO) - 2024 Q1 - Quarterly Report
MNDOMIND C.T.I.(MNDO)2024-03-06 11:25

Revenue Performance - Q4 2023 revenues were 5.6million,a4.55.6 million, a 4.5% increase from 5.4 million in Q4 2022[6] - Full year 2023 revenues totaled 21.6million,slightlyupfrom21.6 million, slightly up from 21.5 million in 2022[6] - Revenues from customer care and billing software were 2.9million,accountingfor522.9 million, accounting for 52% of total revenues in Q4 2023[8] - Revenues in Europe represented 62% of total revenues in Q4 2023, with Germany contributing 39% from the messaging segment[7] Income and Profitability - Operating income for Q4 2023 was 1.2 million, representing 21% of total revenue, down from 23% in Q4 2022[6] - Net income for Q4 2023 was 1.4million,or1.4 million, or 0.06 per share, compared to 1.3million,or1.3 million, or 0.06 per share in Q4 2022[6] - Net income for Q4 2023 was 1,434,000,anincreasefrom1,434,000, an increase from 1,332,000 in Q4 2022, representing a growth of 7.7%[25] Cash Flow and Position - Cash flow from operating activities in Q4 2023 decreased to 0.7millionfrom0.7 million from 1.4 million in Q4 2022[6] - Operating cash flow for the year ended December 31, 2023, was 4,100,000,downfrom4,100,000, down from 4,558,000 in 2022, reflecting a decrease of 10%[25] - Cash position as of December 31, 2023, was approximately 16.6million[6]−CashandcashequivalentsattheendofQ42023stoodat16.6 million[6] - Cash and cash equivalents at the end of Q4 2023 stood at 2,958,000, a decrease from 5,265,000attheendofQ42022[25]−Thebalanceofcashandcashequivalentsatthebeginningoftheperiodwas5,265,000 at the end of Q4 2022[25] - The balance of cash and cash equivalents at the beginning of the period was 5,265,000, down from 4,182,000atthebeginningofthepreviousyear[25]InvestmentsandDividends−Thecompanyreportedanetcashusedininvestingactivitiesof4,182,000 at the beginning of the previous year[25] Investments and Dividends - The company reported a net cash used in investing activities of 1,541,000 for the year, compared to a net cash provided of 1,829,000inthepreviousyear[25]−Thecompanypaiddividendstotaling1,829,000 in the previous year[25] - The company paid dividends totaling 4,839,000 for the year, compared to 5,227,000inthepreviousyear,indicatingareductionof7.45,227,000 in the previous year, indicating a reduction of 7.4%[25] - A gross dividend of 0.24 per share was declared, with a record date of March 20, 2024[13] Expenses and Financial Adjustments - Depreciation and amortization expenses for the year were 196,000,slightlyupfrom196,000, slightly up from 193,000 in 2022[25] - The increase in accounts receivable for Q4 2023 was 412,000,comparedtoanincreaseof412,000, compared to an increase of 103,000 in Q4 2022, indicating a significant rise in receivables[25] - Unrealized losses from marketable securities for the year amounted to 8,000,adecreasefromagainof8,000, a decrease from a gain of 34,000 in the previous year[25] - The company experienced a decrease in deferred revenues of 476,000fortheyear,comparedtoadecreaseof476,000 for the year, compared to a decrease of 216,000 in the previous year[25] Strategic Initiatives - The company continues to pursue M&A opportunities and invest in new technologies to support 5G and cloud solutions[6]