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CSG Systems International, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $295,143,000 from $286,868,000 in the same quarter the previous year. This increase is attributed to the growth of SaaS and related solutions revenue.
Operating income for the quarter was $31,822,000, compared to $32,731,000 in the previous year, with the decrease attributed to increased acquisition-related expenses.
The company reported a net income of $19,088,000 for the quarter, compared to $18,694,000 in the previous year, benefiting from a lower effective income tax rate.
Cash and cash equivalents as of September 30, 2024, were $118,444,000, down from $186,264,000 as of December 31, 2023. Cash flows provided by operating activities for the quarter were $39,459,000.
The filing details significant customer relationships, noting that Charter Communications Inc. (CHTR+0.23%) and Comcast (CMCSA+0.28%) are major customers, contributing significantly to revenue.
CSG Systems International, Inc. continues to focus on expanding its SaaS offerings and integrating recently acquired businesses into its solutions.
The company repurchased approximately 716,000 shares of its common stock for $33.7 million during the nine months ended September 30, 2024.
CSG Systems International, Inc. expects to return $100 million to shareholders through combined common stock repurchases and cash dividends in each of 2024 and 2025.
The company’s total liabilities as of September 30, 2024, were $1,099,035,000, with long-term debt obligations including 2023 Convertible Notes and a 2021 Credit Agreement.
CSG Systems International, Inc. has a $450 million revolving loan facility, with $448.5 million available as of September 30, 2024.
The filing also discusses potential risks, including customer concentration and market risks related to interest rates and foreign currency exchange rates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CSG Systems International Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.