CSP Inc. (NASDAQ:CSPI) Q1 2023 Earnings Call Transcript

Unidentified Analyst: Okay. A couple of other quick questions, I didn’t see anything about the share repurchase, the original 194,000 shares I think only something on the order of 20,000 or 22,000 has been repurchased. Is that correct?

Gary Levine: Yes, we didn’t purchase any stock in there – in the quarter.

Unidentified Analyst: In the quarter anything, since the end of the quarter that you can discuss?

Gary Levine: No. Well, we’re in that period where we can’t – we couldn’t buy.

Unidentified Analyst: Okay. Well again, it seems like with what you’ve outlined as far as the prospects and everything going forward, it seems like if you don’t buy it now, you’re not going to be able to buy it. Is that not the case? I know you want to keep the powder dry, but at the same time, it looks like there’s huge upside for what you’re doing.

Victor Dellovo: Yes absolutely.

Unidentified Analyst: Okay. Last question has to do with the dividend. You’ve never been in a better position, good cash position. Interest rates are up. So you hopefully are earning some – have interest income on the cash. And the dividend is 20% of what it was pre-COVID, pre-PPP. Any prospects there for raising the dividend?

Victor Dellovo: We talked about it at our last meeting, right? We decided right at this stage with some of the financing deals we’ve been doing with our customers to keep that sticky, we will – we’re looking at keeping the cash at hand right at this particular point. Things may change in the near future.

Unidentified Analyst: Okay, all right. Appreciate it look forward to the next call. Thank you.

Victor Dellovo: Thank you.

Operator: There appear to be no further questions in queue. At this time, I would like to turn the floor back over to the CEO, Victor Dellovo, for any closing remarks.

Victor Dellovo: Thank you. As always, I want to thank our shareholders for continued interest and support. We have now reported consecutive quarters of significant growth and momentum we are continuing to experience in the current quarter excites us for the remainder of the year. We have solid revenue conversion, strong pipeline in a product and service portfolio are generating favorable gross margins. Gary and I look forward to sharing our progress in fiscal 2023 second quarter operating results in May. Until then, be well and stay safe.

Gary Levine: Thank you.

Operator: Thank you. This does conclude today’s conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.