PADUCAH, Ky., June 20, 2013 /PRNewswire/ -- Computer
Services, Inc. (CSI) (OTCQX: CSVI) announced today that
shareholders elected four directors and approved the ratification
of the appointment of McGladrey LLP as independent auditors for
fiscal year 2014.
(Logo: http://photos.prnewswire.com/prnh/20080418/CSILOGO )
In comments before the annual meeting, Steven A. Powless, CEO of CSI, stated, "CSI
reported record revenue and net income in fiscal 2013. We
returned a record $22.5 million to
shareholders during the year, including an increase in our cash
dividend for the 24th consecutive year. We expect
CSI to set new records in fiscal 2014 in sales of mobile and
Internet banking products, cloud-based products and technology, and
to process a record number of transactions for regulatory
compliance customers.
"We had record cross-sales of mobile and Internet products in
fiscal 2013 and expect our sales to accelerate as banks increase
their spending for technology in the coming year. We recently
introduced an innovative person-to-person (P2P) payments system
that allows almost instant transfer of funds. We believe our
mobile banking platform provides significant advantages from
existing multi-step, multi-day P2P systems and will enhance our
customers' competitive edge in this fast-growing market.
"CSI processed over 32 billion transactions last year.
That's equivalent to about 3.6 million transactions every
hour. We are on track to exceed this volume based on new
business and increased business from our Regulatory Compliance
division. We recently united our Regulatory Compliance division
under the CSI brand and believe this will enhance our visibility as
we expand our marketing and sales efforts.
"We are excited about the future of CSI and our focus of being
the total solutions partner for our customers. We remain
focused on investing in technology, infrastructure and people to
support our continued growth," concluded Mr. Powless.
At the meeting, shareholders elected the following directors for
the indicated terms:
Three-year term:
Steven A. Powless – Chief Executive
Officer, Computer Services, Inc.
Linda J. Vitale – Partner,
Manchester Capital; Former Professor and Chair Information Systems,
Gordon Ford College of Business,
Western Kentucky University
Robert L. Walker – Senior Vice
President and CFO, Western and Southern Financial Group
One-year term:
Richard A. Anderson – Former Vice
Chairman, BellSouth; Former Chief Operating Officer, Federal
Reserve
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed
services, mobile and Internet solutions, payments processing, print
and electronic distribution, and regulatory compliance solutions to
financial institutions and corporate customers across the nation.
Exceptional service, dynamic solutions and superior results are the
foundation of CSI's reputation, and have resulted in the company's
inclusion in such top industry-wide rankings as the FinTech 100,
Talkin' Cloud 100 and MSPmentor Top 501 Global Managed Service
Providers List. CSI's stock is traded on OTCQX under the symbol
CSVI. For more information about CSI, visit www.csiweb.com.
Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of
1995. All statements except historical statements contained herein
constitute "forward-looking statements." Forward-looking statements
are inherently uncertain and are based only on current expectations
and assumptions that are subject to future developments that may
cause results to differ materially. Readers should carefully
consider: (i) economic, competitive, technological and governmental
factors affecting CSI's operations, customers, markets, services,
products and prices; and (ii) other factors discussed in CSI's
Annual Report, Quarterly Reports, Information and Disclosure
Statements and other documents posted from time to time on the
OTCQX website (www.otcqx.com), including without limitation, the
description of the nature of CSI's business and its management
discussion and analysis of financial condition and results of
operations for reported periods. Unless required by law, CSI
undertakes no obligation to update, and is not responsible for
updating, the information contained in this report beyond the
publication date, whether as a result of new information or future
events, or to conform the statement to actual results or changes in
CSI's expectations, or otherwise or for changes made to this
document by wire services or Internet services.
SOURCE Computer Services, Inc.