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MIND C.T.I. Ltd (MNDO)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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Previous Close3.2300
Open3.2400
Bid3.2000 x 1800
Ask3.2500 x 1800
Day's Range3.2000 - 3.2400
52 Week Range2.0000 - 3.3300
Volume25,248
Avg. Volume68,504
Market Cap64.354M
Beta (5Y Monthly)0.87
PE Ratio (TTM)11.50
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.26 (8.07%)
Ex-Dividend DateMar 17, 2021
1y Target EstN/A
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  • MIND CTI Reports First Quarter 2021 Results
    GlobeNewswire

    MIND CTI Reports First Quarter 2021 Results

    YOQNEAM, Israel, May 12, 2021 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced results for its first quarter ended March 31, 2021. The following will summarize our major achievements in the first quarter of 2021 as well as our business. The financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K. Financial Highlights Revenues were $6.1 million, compared with $6.0 million in the first quarter of 2020.Operating income was $1.6 million, or 26% of total revenues, compared with $1.3 million, or 22% of total revenues in the first quarter of 2020.Net income was $1.5 million, or $0.07 per share, compared with $1.2 million, or $0.06 per share in the first quarter of 2020.Cash flow from operating activities was $0.6 million, compared with $1.1 million in the first quarter of 2020.Cash position was $17.5 million as of March 31, 2021 (before the dividend distribution of $5.2 million in April 2021). Monica Iancu, MIND CTI CEO, commented: “During five quarters of unprecedented times as a result of the COVID-19 pandemic, we showed resilience and responsiveness. We have successfully operated and completed all different projects’ milestones. We proved to our customers that as always, they can count on us to tirelessly maintain and strengthen their business, under a firm business continuity program, working remotely using secured access. Our markets present a similar challenging behavior for the last few years, but we feel fortified by the diversification of our revenue streams. It is part of our strategy to pursue acquisitions, in order to enhance our market position, and we are actively seeking potential acquisition opportunities. “Our messaging segment was favorably impacted by activities related to COVID-19 and we plan to expand the range of messaging services we offer and the technological vehicles used to deliver them to our customers, hoping to increase the rate of new customer acquisitions.” Revenue Distribution The Americas represented 34%, Europe represented 57% (including the Message Mobile and GTX revenues in Germany that represented 41%) and the rest of the world represented 9% of total revenues. Customer care and billing software totaled $3.1 million, or 51% of total revenues, enterprise messaging and payment solutions were $2.5 million, or 41% of total revenues and enterprise call accounting software totaled $0.6 million, or 8% of total revenues. Licenses totaled $0.8 million, or 13% of total revenues, while maintenance and additional services were $5.3 million, or 87% of total revenues. Licenses were uniquely high this quarter thanks to two customers’ increase in license to support exceptional growth in the number of their subscribers. Dividend DistributionAs previously announced, the Board declared on March 4, 2021 a gross dividend of $0.26 per share with tax being withheld at a rate of 20%. The dividend of approximately $5.2 million, is presented in our balance sheet as of March 31, 2021 among other payables. The net dividend was distributed to our shareholders and withholding taxes were paid in April 2021. Changes in Management TeamMIND also announced today the appointment of a new CFO. Mr. Tal Weiss, (37), joined us as the new CFO in April 2021, replacing Mr. Shoham Shitrit who joined MIND in 2019 and whom we thank for his contribution and wish continued success. Mr. Weiss comes to MIND after serving three years as company controller of a medical technology company – Itamar Medical Ltd. (Nasdaq: ITMR) and four years as a CPA in the Audit High Tech Team at Ernst & Young (Israel). Tal holds a B.A. degree in Accounting and Economics from Haifa University and is a Certified Public Accountant in Israel. Board of Directors UpdateMr. Amnon Neubach has rejoined MIND’s Board of Directors as an independent director and a member of our Board’s committees. Mr. Neubach had served as an external director of our company from 2001 until 2014. He currently serves as Chairman of the Tel-Aviv Stock Exchange Ltd. since 2014 and has served in various privately-held and public companies as a director, a member of executive committees and in some as chairman of the board. Mr. Neubach holds a B.A. degree in Economics and Business Administration and an M.A. degree in Economics, both from Bar Ilan University. AGM UpdateThe Company held its Annual General Meeting of Shareholders on May 11, 2021 and all the proposed resolutions were approved. About MINDMIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions. MIND provides a complete range of billing applications for any business model (license, SaaS, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers. A global company, with over twenty years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, Romania, Germany and Israel. Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements", including estimations relating to the impact of the COVID-19 pandemic and mitigation measures in connection thereto, expectations of the results of the Company’s business optimization initiative, integration of the company’s acquisitions and its projected outlook and results of operations. These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including, but not limited to, the impact of the COVID-19 pandemic on our customers and economic conditions in our key markets, as well as the risks discussed in the Company's annual report and other filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information. For more information please contact:Andrea DrayMIND C.T.I. Ltd.Tel: +972-4-993-6666investor@mindcti.com

  • MIND CTI Reports Fourth Quarter and Full Year 2020 Results
    GlobeNewswire

    MIND CTI Reports Fourth Quarter and Full Year 2020 Results

    *Board Declares Cash Dividend * MIND CTI to Host Annual Meeting of Shareholders YOQNEAM, Israel, March 04, 2021 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM: MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced results for its fourth quarter and full year ended December 31, 2020. The following will summarize our business in the fourth quarter of 2020 and provide a more detailed review of the financial results for the quarter and for the full year. Full financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K. Financial Highlights of Q4 2020 Revenues of $5.8 million, compared to $6.7 million in the fourth quarter of 2019.Operating income of $1.3 million, or 23% of total revenue, compared to $1.2 million, or 18% of revenue in the fourth quarter of 2019.Net income of $1.4 million or $0.07 per share, compared to $1.3 million or $0.07 per share in the fourth quarter of 2019.Cash flow from operating activities of $2.3 million, compared to $1.2 million in the fourth quarter of 2019. Financial Highlights of Full Year 2020 Revenues of $23.4 million, compared to $22.7 million in 2019, with the increase attributed to the acquisition of Message Mobile in March 2019 and GTX in September 2019, which generated revenues of approximately $8.7 million during 2020 and revenues of approximately $6.1 million during the period we consolidated their results in 2019.Operating income of $5.5 million, or 23% of total revenue, compared to $5.0 million, or 22.0% of total revenue in 2019.Net income of $5.4 million, or $0.27 per share, compared to $5.1 million, or $0.26 per share in 2019.Cash flow from operating activities of $6.5 million, compared to $6.7 million in 2019.Cash position of approximately $17 million as of December 31, 2020. Monica Iancu, MIND CTI’s President and Chief Executive Officer, commented: “Our lower revenues reflect the expected and previously announced negative impact of the shrinking relevant telecom markets and strong competition. We experience the effect of the COVID-19 pandemic in all areas of our business. We believe that due to the general economic uncertainty, the majority of our customers, both enterprises and carriers, are restricting their budgets and are delaying new projects. Regarding the two acquisitions we completed in 2019, we successfully integrated these two subsidiaries, and they have both performed well. While for the near term we expect a negative impact of the abovementioned circumstances on our results, we believe that we have the required resources to respond to market needs, to be relevant for future market trends in our core billing, analytics and messaging platforms, as well as continue with our dividend policy and at the same time focus on targeting potential acquisitions that could be a source of growth.” Revenue Distribution for Q4 2020 Revenues in the Americas represented 44%, revenues in Europe represented 51% (including the Message Mobile and GTX revenues in Germany that represented 38%) and revenues in the rest of the world represented 5% of our total revenues. Revenues from our customer care and billing software were $2.9 million, or 50% of total revenues, revenues from enterprise messaging and payment solutions were $2.2 million, or 38% of total revenues, and revenues from our enterprise call accounting software were $0.7 million, or 12% of total revenues. Revenues from licenses were $0.3 million, or 5% of total revenues, while revenues from maintenance and additional services were $5.5 million, or 95% of total revenues. Revenue Distribution for Full Year 2020 Revenues in the Americas represented 44%, revenues in Europe represented 50% (including the Message Mobile and GTX revenues in Germany that represented 37%) and revenues in the rest of the world represented 6% of our total revenues. Revenues from our customer care and billing software were $12 million, or 51% of total revenues, revenues from enterprise messaging and payment solutions were $8.7 million, or 37% of total revenues, and revenues from enterprise call accounting software were $2.7 million, or 12% of our total revenues. Revenues from licenses were $1.4 million, or 6% of total revenues, compared to $2.3 million, or 10% of total revenues in 2019, while revenues from maintenance and additional services were $22 million, or 94%, compared to $20.4 million or 90% of total revenues in 2019. Dividend Distribution Since July 2003, when we first adopted a dividend policy, we performed 18 distributions, including one special dividend. We continue to believe that our annual dividends enhance shareholder value. Taking into consideration our dividend policy and the remaining cash after the distribution, our Board of Directors declared on March 4, 2021, a gross dividend of $0.26 per share. The record date for the dividend will be March 18, 2021 and the payment date will be April 8, 2021. Tax will be withheld at a rate of 20%. Active Pursuit of Acquisitions As previously announced, we continue targeting potential acquisitions that could be a source of growth, by focusing on acquisition targets at reasonable valuations that satisfy the criteria we defined: proven revenues, complementary technology or geography and expected accretion to earnings within two to three quarters. AGM MIND also announced today that its 2021 Annual General Meeting of Shareholders will be held on Tuesday, May 11, 2021 at 10:00 A.M. (Israel time), at the offices of the Company, 2 HaCarmel St., Yoqneam Ilit 2066724, Israel. Shareholders of record at the close of business on April 8, 2021 are entitled to vote at the Meeting. All shareholders are cordially invited to attend the Meeting in person. Proxy statements and proxy cards for use by shareholders that cannot attend the meeting in person will be sent to shareholders that hold shares registered with the American Stock Transfer & Trust Company, including shares held via DTC members. The right under Israeli law of 1% shareholders to request the addition of appropriate matters to the agenda shall expire 14 days after the date of this notice. The agenda of the meeting is as follows: to re-appoint Brightman Almagor Zohar (a firm in the Deloitte Global Network) as the Company’s independent auditor until the close of the following Annual General Meeting and to authorize the Board of Directors of the Company to determine its remuneration or to delegate the Audit Committee thereof to do so;to re-elect Mr. Meir Nissensohn as a Class III director of the Company until the 2024 Annual General Meeting and his compensation for his services as director;to elect Mr. Amnon Neubach as a Class III director of the Company until the 2024 Annual General Meeting and his compensation for his services as director; andto discuss the Company’s audited financial statements for the year ended December 31, 2020. About MIND MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions. MIND provides a complete range of billing applications for any business model (license, SaaS, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers. A global company, with over twenty years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, Romania, Germany and Israel. Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's annual report and other filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information. For more information please contact: Andrea Dray MIND C.T.I. Ltd. Tel: +972-4-993-6666 investor@mindcti.com

  • MIND CTI Reports Third Quarter 2020 Results
    GlobeNewswire

    MIND CTI Reports Third Quarter 2020 Results

    YOQNEAM, Israel, Nov. 10, 2020 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. – (NasdaqGM: MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions, today announced results for its third quarter ended September 30, 2020. The following will summarize our major achievements in the third quarter of 2020, as well as our business. Full financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K.Q3 2020 Financial Highlights * Revenues were $5.9 million, compared to $5.8 million in the third quarter of 2019, with the increase attributed to the acquisition of GTX GmbH in September 2019, which generated revenues of approximately $1.0 million during the quarter. * Operating income was $1.4 million, compared to $1.3 million in the third quarter of 2019. * Net income was $1.4 million, or $0.07 per share, compared to $1.2 million, or $0.06 per share in the third quarter of 2019. * Cash flow from operating activities was $1.9 million, compared to $2.0 million in the third quarter of 2019. * New win and multiple follow-on orders * Cash position was $14.7 million as of September 30, 2020.Nine Months Financial Highlights * Revenues were $17.6 million, compared to $16.0 million in the first nine months of 2019, with the increase attributed to the acquisition of GTX GmbH in September 2019, which generated revenues of approximately $2.8 million during the first nine months of 2020 and to the acquisition of Message Mobile GmbH in March 2019, which generated revenues of approximately $1.3 million during the first quarter of 2020. * Operating income was $4.1 million, or 24% of total revenues, compared to $3.8 million, or 24% of total revenues in the first nine months of 2019. * Net income was $4.0 million, or $0.20 per share, compared to $3.7 million, or $0.19 per share in the first nine months of 2019. * Cash flows from operating activities in the first nine months of 2020 was $4.2 million, compared to $5.4 million in the first nine months of 2019.Monica Iancu, MIND CTI CEO, commented: “The environment remains challenging as described in the last few years’ previous press releases. Communications service providers continue to face major challenges. Moreover, some of them are experiencing additional negative impact on revenues from reduction in tourism, associated with COVID-19. They are expected to develop new services and offer multi-play discounted bundles and at the same time they attempt to reduce their costs. While there is demand for our products and services, most processes are constantly delayed, and competition is fierce. As previously stated, during our over twenty years of operation, we have experienced challenging market conditions and we executed successfully in shifting our focus towards new opportunities.”Impact of COVID-19 We experience the effect of the pandemic in all areas of our business, mainly due to the delays in the pace of ongoing implementation rollouts in all our lines of business, due to lockdowns and other COVID-19 related measures. Also, due to the general economic uncertainty, the majority of our customers, both enterprises and carriers, are restricting their budgets.Revenue Distribution for Q3 2020 The Americas represented 43%, Europe represented 51% (including the Message Mobile and GTX revenues in Germany that represented 38%) and the rest of the world represented 6% of total revenues.Customer care and billing software totaled $3.05 million, or 52% of total revenues, enterprise messaging and payment solutions were $2.25 million, or 38% of total revenues, and enterprise call accounting software totaled $ 0.6 million, or 10% of our total revenues.Licenses totaled $0.3 million, or 6% of total revenues, while maintenance and additional services were $5.6 million, or 94% of total revenues.Revenue Distribution for Nine Months 2020 The Americas represented 45%, Europe represented 50% (including the Message Mobile and GTX revenues in Germany that represented 37%) and the rest of the world represented 5% of total revenues.Customer care and billing software totaled $9.1 million, or 52% of total revenues, enterprise messaging and payment solutions were $6.5 million, or 37% of total revenues, and enterprise call accounting software totaled $2 million, or 11% of our total revenues.Licenses totaled $1.1 million, or 6% of total revenues, while maintenance and additional services were $16.5 million, or 94% of total revenuesNew Win The new win is with an African alternative carrier that provides data services to corporates across all industries. The MINDBill solution was selected after a lengthy process based on our proven successful deployment and open architecture for interfacing with the various network elements, CRM, fulfillment and ERP. MIND will provide them the B2B billing required to achieve a competitive advantage and differentiate their brand with sophisticated rating schemes, tailor-made packages targeting specific market segments and business processes to support future market penetration. MIND BSS will facilitate the compelling needs to prevent revenue loss, to ensure that all the services are billed, to handle disputes and to provide a structured dunning process.Message Mobile GmbH 2019 Results As previously announced, after reviewing the revenue recognition methodology for messaging and mobile payment transactions, based on the key principal-versus-agent considerations under ASC 606, Revenues from Contract with Customers, we concluded to recognize revenues from Message Mobile’s mobile payments line of business on a “net basis” instead of a “gross basis”. Consequently, only our share in the processed transactions is recognized as revenues.As a result of the above, our consolidated revenues for Q2 2019 were $5.7 million instead of $6.0 million (Message Mobile being $1.6 million instead of $1.9 million) and the consolidated cost of revenues were $2.9 million instead of $3.2 million (Message Mobile being $1.3 million instead of $1.6 million).Our consolidated revenues for Q3 2019 were $5.8 million instead of $6.1 million (Message Mobile being $1.7 million instead of $2.0 million) and the consolidated cost of revenues were $2.7 million instead of $3.0 million (Message Mobile being $1.3 million instead of $1.6 million).All the other metrics, including gross profit, operating income and cash, are unchanged from the preliminary amounts announced in 2019.About MIND MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product-based solutions for service providers, unified communications analytics and call accounting solutions for enterprises as well as enterprise messaging solutions. MIND provides a complete range of billing applications for any business model (license, SaaS, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers. A global company, with over twenty years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, Romania, Germany and Israel.Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's annual report and other filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.For more information please contact: Andrea Dray MIND CTI Ltd. Tel: +972-4-993-6666 investor@mindcti.com