SOURCE: MIND CTI Ltd.

February 11, 2010 10:05 ET

MIND Will Report Q4 2009 and Year-End Results on March 3, 2010

YOQNEAM, ISRAEL--(Marketwire - February 11, 2010) - MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions, will release financial results for its fourth quarter and full 2009 year, ended December 31, 2009 on Wednesday, March 3, 2010, before market open.

Based upon preliminary information:

-- Revenue of approximately $5 million expected for the fourth quarter
   of 2009.
-- Cash position as of December 31, 2009 of approximately $18 million.
-- The number of outstanding shares after completion of the buy-back
   plan is 18,428,918.
-- Backlog as of December 31, 2009 includes approximately $12 million
   that is expected to be billed by year-end.

New Wins

In the fourth quarter MIND secured two new customers and a major upgrade with an existing customer.

The first win is with a leading international communications provider offering mobile, broadband, domestic and international fixed line services, for their operation in one country in Central America. MIND will provide mediation, rating and billing for prepaid calling cards. The MINDBill solution will handle millions of prepaid calling cards supporting multiple services through its built-in balance manager.

The second win is a smaller win, with a new NextGen operator (partially owned by a large Israeli provider offering broadband and international calls) that plans to start offering voice and IP services in Eastern Europe.

The major upgrade is with a triple play wireless, wireline and broadband carrier in the Caribbean. This carrier selected MIND to consolidate multiple platforms and improve the product offering capability to target additional market segments. MIND will deploy the following modules: customer care, point-of-sale, inventory management, customer self-care, billing, provisioning, mediation, voucher management, web services and reporting to support prepaid and postpaid models. The agreement is for four years and includes license, implementation services and maintenance support.

Monica Eisinger, Chairperson and CEO, commented: "We are pleased with our fourth quarter results and believe they convey improvement in our business. We are extremely pleased with our outstanding ongoing cash flow from operating activities in 2009. We hope to see both revenue and backlog building up over the next quarters."

About MIND

MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions. MIND provides a complete range of billing applications for any business model (license, managed service or complete outsourced billing service) for Wireless, Wireline, VoIP and Quad-play carriers in more than 40 countries around the world.

A global company, with over twelve years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, UK, Romania and Israel.

For more information, visit MIND at: www.mindcti.com.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.

Contact Information

  • For more information please contact:
    Andrea Dray
    MIND CTI Ltd.
    Tel: +972-4-993-6666
    Email Contact