CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, has reported results for the quarter ended March 31, 2018, the company said.
Total revenues for the first quarter of 2018 were USD 201.7 million, a 5% increase when compared to revenues of USD 192.5 million for the first quarter of 2017, and a 2% decrease when compared to revenues of USD 205.2 million for the fourth quarter of 2017.
The year-over-year increase in revenues can be mainly attributed to the following: (i) one month of revenues of USD 5 million from our acquisition of Business Ink, a company that CSG acquired on February 28, 2018, and (ii) continued growth in CSG´s cloud solutions and managed services offerings, driven in large part by the full year impact of the Comcast customer conversions onto CSG´s platform that was completed last year.
The sequential quarterly decrease can be primarily attributed to the higher level of revenues CSG typically experiences in the fourth quarter.
Cash, cash equivalents and short-term investments at March 31, 2018 were USD 222.1 million, compared to USD 261.4 million as of December 31, 2017. The decrease can be mainly attributed to the acquisition of Business Ink for approximately USD 70 million of cash in the quarter. CSG generated net cash flows from operations for the first quarters ended March 31, 2018 and 2017 of USD 29.9 million and USD 30.0 million, respectively, and had non-GAAP free cash flow of USD 17.6 million and USD 20.4 million, respectively.
CSG simplifies the complexity of business transformation in the digital age for the most respected communications, media and entertainment service providers worldwide. With over 35 years of experience, CSG delivers revenue management, customer experience and digital monetization solutions for every stage of the customer lifecycle.