CSP Inc. Q3 Revenue Dips to $9.46M
Ticker: CSPI · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 356037
Sentiment: bearish
Topics: revenue-decline, quarterly-results, financials
TL;DR
CSP Inc. Q3 revenue down to $9.46M from $9.74M YoY. Watch for future performance.
AI Summary
CSP Inc. reported its third-quarter results for the period ending June 30, 2024. The company's trading revenue for the three months ended June 30, 2024, was $9.46 million, a decrease from $9.74 million in the same period last year. The filing also details changes in retained earnings, additional paid-in capital, and accumulated other comprehensive income as of June 30, 2024.
Why It Matters
This filing provides insight into CSP Inc.'s recent financial performance, indicating a slight decline in revenue which could impact investor sentiment and future strategic decisions.
Risk Assessment
Risk Level: medium — The slight decrease in revenue and the nature of a 10-Q filing suggest a need for investors to monitor the company's financial health and market position closely.
Key Numbers
- $9.46M — Trading Revenue (Q3 2024) (Represents the company's top-line performance for the most recent quarter.)
- $9.74M — Trading Revenue (Q3 2023) (Provides a year-over-year comparison for revenue.)
Key Players & Entities
- CSP Inc. (company) — Filer of the 10-Q report
- 9.46 million (dollar_amount) — Trading revenue for the three months ended June 30, 2024
- 9.74 million (dollar_amount) — Trading revenue for the three months ended June 30, 2023
- June 30, 2024 (date) — End of the reporting period for the third quarter
FAQ
What was CSP Inc.'s trading revenue for the three months ended June 30, 2024?
CSP Inc.'s trading revenue for the three months ended June 30, 2024, was $9.46 million.
How does the Q3 2024 revenue compare to the same period in the previous year?
The trading revenue for the three months ended June 30, 2024 ($9.46 million) decreased compared to the same period in 2023 ($9.74 million).
What is the fiscal year end for CSP Inc.?
CSP Inc.'s fiscal year ends on September 30.
What is the primary business of CSP Inc. according to the filing?
CSP Inc. is involved in Services-Computer Integrated Systems Design, with SIC code 7373.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on August 19, 2024.
Filing Stats: 4,577 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-08-19 15:10:32
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share CSPI Nasdaq Global Market
Filing Documents
- cspi-20240630x10q.htm (10-Q) — 2945KB
- cspi-20240630xex31d1.htm (EX-31.1) — 9KB
- cspi-20240630xex31d2.htm (EX-31.2) — 9KB
- cspi-20240630xex32d1.htm (EX-32.1) — 10KB
- 0000356037-24-000055.txt ( ) — 11783KB
- cspi-20240630.xsd (EX-101.SCH) — 45KB
- cspi-20240630_cal.xml (EX-101.CAL) — 77KB
- cspi-20240630_def.xml (EX-101.DEF) — 198KB
- cspi-20240630_lab.xml (EX-101.LAB) — 458KB
- cspi-20240630_pre.xml (EX-101.PRE) — 343KB
- cspi-20240630x10q_htm.xml (XML) — 2905KB
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and September 30, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and nine months ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statement of Shareholders' Equity for the three and nine months ended June 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the nine months ended June 30, 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 28 Item 4.
Controls and Procedures
Controls and Procedures 39 PART II. OTHER INFORMATION Item 1A.
Risk Factors
Risk Factors 40 Item 2. Purchases of equity securities 40 Item 5. Other information 40 Item 6. Exhibits 40 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) June 30, September 30, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 28,891 $ 25,217 Accounts receivable, net of allowances of $ 63 and $ 100 9,436 12,955 Financing receivables, net of allowances of $ 25 and $ 0 8,710 7,171 Inventories 2,475 2,542 Other current assets 2,096 2,479 Total current assets 51,608 50,364 Property, equipment and improvements, net 482 525 Operating lease right-of-use assets 615 966 Intangibles, net 47 46 Financing receivables due after one year, net of allowances of $ 44 and $ 0 3,718 4,224 Deferred income taxes, net 2,584 2,346 Cash surrender value of life insurance 5,545 5,356 Pension benefits assets 2,028 1,958 Other assets 177 119 Total assets $ 66,804 $ 65,904 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 11,798 $ 10,785 Line of credit 829 1,515 Note payable — 449 Deferred revenue 1,571 1,898 Pension and retirement plans 78 98 Income taxes payable 327 914 Total current liabilities 14,603 15,659 Pension and retirement plans 1,180 1,251 Operating lease liabilities - noncurrent portion 153 482 Income taxes payable 359 513 Other noncurrent liabilities 2,369 1,851 Total liabilities 18,664 19,756 Shareholders' equity: Common stock, $ .01 par value per share; authorized, 20,000 shares; issued and outstanding 9,743 (1) and 9,456 (1) shares, respectively 98 94 Additional paid-in capital (1) 22,054 20,837 Retained earnings 31,832 31,311 Accumulated other comprehensive loss ( 5,844 ) ( 6,094 ) Total shareholders' equity 48,140 46,148 Total liabilities and shareholders' equity $ 66,804 $ 65,904 (1) Retroactively adjusted for the effects of a two