Computer Software Innovations Q2 net income decreases

Fri. August 14, 2009; Posted: 09:46 AM

Aug 14, 2009 (Datamonitor via COMTEX) -- CSWI | Quote | Chart | News | PowerRating -- Computer Software Innovations has reported a net income of approximately $0.2 million, or $0.02 per diluted share, for the second quarter ended June 30, 2009, compared to $1 million, or $0.08 per diluted share, for the same period of 2008.

The company has reported revenue of $13.78 million for the second quarter ended June 30, 2009, compared to $17.55 million for the same quarter of 2008.

Computer Software Innovations has reported a net loss of $0.4 million, or $0.07 per diluted share, for the first six months ended June 30, 2009, compared to a net income of $1.4 million or $0.12 per diluted share, for the same period of 2008. Year-to-date revenue was $22.65 million, compared to $29.61 million for the same period of 2008.

Nancy Hedrick, CEO of Computer Software Innovations, said: "We are pleased that we were able to return to profitability in the second quarter of 2009. While our public sector clients continue to face budget constraints over prior years, we have seen sales activity improve in second quarter and early third quarter. And we continue to closely monitor our fixed costs to mirror our revenue."

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