CSG Systems' 4Q results, 2013 outlook top views
CSG Systems posts fourth-quarter results and 2013 outlook that top Wall Street forecasts
ENGLEWOOD, Colo. (AP) -- Shares of CSG Systems International Inc. jumped almost 13 percent in after-hours trading Tuesday after the software maker unveiled fourth-quarter results and guidance for 2013 that were well above Wall Street's expectations.
CSG provides software that helps cable and satellite television companies manage customer relations. For the final three months of 2012, it reported net income of $15.8 million, or 48 cents a share, compared with $11.3 million, or 35 cents a share, in the same quarter of 2011.
Adjusting for one-time items, including an anticipated gain from a lower-than-expected tax rate, the company said it earned 67 cents a share in the latest quarter. Revenue rose to $198 million from $187.6 million.
Analysts had been expecting an adjusted 48 cents a share on $187.5 million, according to FactSet.
CSG said it expects to earn between $2.23 and $2.33 a share on an adjusted basis in 2013 on revenue of between $755 million and $775 million. Analysts had been expecting $1.95 a share on $747.5 million in revenue, according to FactSet.
Shares in the Englewood, Colo., company were up $2.35 to $20.99 in extended trading. They ended the regular session up 39 cents, or 2 percent, at $18.64.
