Israel's MIND CTI registered a 15% increase in revenues to $4.66 million in the third quarter, as compared with the same period last year.
Net income, excluding amortization of intangible assets and equity-based compensation expense, was placed at $972,000 or $0.05 per share. Cash flow from operations reached $1.05 million as of end-September.
According to chair and CEO Monica Eisinger, the company's strong third-quarter results can be attributed to its focus on larger deals that require longer sales cycles and longer revenue spreads. Long-term customer relationships have started bearing fruit, with three customer upgrades registered in the third quarter.