MIND C.T.I.(MNDO) - 2023 Q2 - Quarterly Report

Financial Performance - Revenue for Q1 2023 was $5.5 million, a decrease of 3.5% from $5.7 million in Q1 2022[8] - Operating income was $1.3 million, representing 24% of total revenues, down from 29% in Q1 2022[8] - Net income was $1.3 million, or $0.07 per share, compared to $1.5 million, or $0.07 per share in Q1 2022[8] Revenue Breakdown - Customer care and billing software generated $2.8 million, accounting for 52% of total revenues, while enterprise messaging and payment solutions contributed $2.1 million, or 38%[5] - Europe accounted for 54% of total revenues, with the Americas at 37% and the rest of the world at 9%[5] Cash and Dividends - Cash position was $17.9 million as of March 31, 2023, prior to a dividend distribution of $4.8 million in April 2023[8] - The company declared a gross dividend of $0.24 per share, with a withholding tax rate of 22%[7] Strategic Initiatives - The company is actively seeking suitable acquisitions to enhance its market position[4] - The company secured a second customer for its online store/e-commerce module in Q1 2023[4] Asset Management - Total current assets increased to $21.5 million from $20.3 million as of December 31, 2022[17]