Conference Call Scheduled for May 5, 2011 at 8:30 AM Eastern Time
YOQNEAM, ISRAEL--(Marketwire - May 4, 2011) - MIND C.T.I. LTD. (
Key Highlights
Cash Position and Annual Dividend Distribution
The cash position including marketable debentures is $17.4 million as of March 31, 2011.
As previously announced, based on our policy of annual dividend distribution, the Board declared a cash dividend of $0.32 per share before withholding tax. The record date for the annual dividend was February 28, 2011 and the payment date was March 21, 2011.
The dividend declared and distributed was approximately $6 million - $4.7 million that was paid to the shareholders in March 2011 and $1.3 million was paid for the withholding tax to the Israeli Tax authority in April 2011.
Revenue Distribution Based on GAAP Revenue for Q1 2011
Sales in the Americas represented 39.3% and sales in Europe represented 46.9% of total revenue and the rest divided between Israel, Africa and Asia-Pacific.
Revenue from customer care and billing software totaled $3.4 million, while revenue from enterprise call accounting software was $1.1 thousand.
Impact of Customer Warrant Award on Revenues
As we previously announced, we issued in January 2011 to EastLink a warrant to purchase ordinary shares of MIND. Given the exercise price and warrant validity period according to US GAAP rules we encountered a one time stock-based compensation granted to a customer adjustment to our revenues of $332 thousand.
Conference Call Information
MIND will host a conference call on May 5, 2011 at 8:30 a.m., Eastern Time, to discuss the Company's first quarter 2011 results and other financial and business information. The call will be carried live on the Internet via