CSP Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CSP Inc. filed its quarterly 10-Q report for the period ending March 31, 2024.</b>

AI Summary

CSP INC /MA/ (CSPI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. CSP Inc. reported financial results for the period ending March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on September 30. CSP Inc. is incorporated in Massachusetts (MA). The company's business and mailing address is located at 175 Cabot Street, Suite 210, Lowell, MA 01854.

Why It Matters

For investors and stakeholders tracking CSP INC /MA/, this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the most recent quarter. Understanding the 10-Q is crucial for assessing the company's operational health, profitability, and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — CSP INC /MA/ shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains detailed financial information but lacks specific forward-looking statements or significant event disclosures that would immediately alter risk perception.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational performance.

Key Numbers

• 2024-03-31 — Period of Report (Conformed Period of Report)
• 2024-05-09 — Filed As Of Date (Filed As Of Date)
• 0930 — Fiscal Year End (Fiscal Year End)
• 7373 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CSP INC /MA/ (company) — Filer
• 0000356037 (company) — Central Index Key
• MA (company) — State of Incorporation
• 175 Cabot Street (company) — Business Address
• Lowell (company) — Business Address City
• 01854 (company) — Business Address ZIP
• 9789545038 (company) — Business Phone
• 2024-03-31 (date) — Period of Report

FAQ

Industry Context

CSP Inc. operates within the computer integrated systems design industry, providing technology solutions and services.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically the 10-Q form for quarterly reporting.

What Investors Should Do

1. Analyze the revenue and net income figures for the quarter ending March 31, 2024.
2. Examine any disclosed segment information to understand business unit performance.
3. Review the balance sheet for changes in assets, liabilities, and equity compared to previous periods.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, providing a quarterly update. A comparison to the previous quarter's 10-Q or the prior year's 10-Q would be necessary for detailed trend analysis.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share CSPI Nasdaq Global Market

Filing Documents

• cspi-20240331x10q.htm (10-Q) — 2955KB
• cspi-20240331xex31d1.htm (EX-31.1) — 9KB
• cspi-20240331xex31d2.htm (EX-31.2) — 9KB
• cspi-20240331xex32d1.htm (EX-32.1) — 10KB
• 0000356037-24-000028.txt (&nbsp;) — 11853KB
• cspi-20240331.xsd (EX-101.SCH) — 45KB
• cspi-20240331_cal.xml (EX-101.CAL) — 76KB
• cspi-20240331_def.xml (EX-101.DEF) — 193KB
• cspi-20240331_lab.xml (EX-101.LAB) — 450KB
• cspi-20240331_pre.xml (EX-101.PRE) — 337KB
• cspi-20240331x10q_htm.xml (XML) — 2976KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and September 30, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statement of Shareholders' Equity for the three and six months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the six months ended March 31, 2024 and 2023 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 4.

Controls and Procedures

Controls and Procedures 38 PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 39 Item 5. Other information 39 Item 6. Exhibits 39 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CSP INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except par value) March 31, September 30, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 27,119 $ 25,217 Accounts receivable, net of allowances of $ 73 and $ 100 12,780 12,955 Financing receivables, net of allowances of $ 22 and $ 0 7,625 7,171 Inventories 1,478 2,542 Other current assets 1,860 2,479 Total current assets 50,862 50,364 Property, equipment and improvements, net 509 525 Operating lease right-of-use assets 722 966 Intangibles, net 48 46 Financing receivables due after one year, net of allowances of $ 48 and $ 0 2,178 4,224 Deferred income taxes, net 2,249 2,346 Cash surrender value of life insurance 5,477 5,356 Pension benefits assets 2,025 1,958 Other assets 130 119 Total assets $ 64,200 $ 65,904 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 9,667 $ 10,785 Line of credit 1,045 1,515 Note payable — 449 Deferred revenue 1,668 1,898 Pension and retirement plans 81 98 Income taxes payable 74 914 Total current liabilities 12,535 15,659 Pension and retirement plans 1,203 1,251 Operating lease liabilities - noncurrent portion 235 482 Income taxes payable 359 513 Other noncurrent liabilities 1,621 1,851 Total liabilities 15,953 19,756 Shareholders' equity: Common stock, $ .01 par value per share; authorized, 9,754 shares; issued and outstanding 9,754 (1) and 9,456 (1) shares, respectively 98 94 Additional paid-in capital (1) 21,625 20,837 Retained earnings 32,378 31,311 Accumulated other comprehensive loss ( 5,854 ) ( 6,094 ) Total shareholders' equity 48,247 46,148 Total liabilities and shareholders' equity $ 64,200 $ 65,904 (1) Retroactively adjusted for the effects of a st

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View this 10-Q filing on SEC EDGAR