BILLERICA, MA, December 22, 2014 – CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today issued a correction to the previously issued press release dated December 16, 2014, “CSP Inc. Reports Fourth-Quarter and Year End Fiscal 2014 Financial Results”.
The press release dated December 16, 2014 incorrectly reported basic and diluted earnings per share of $0.39 and $0.38 for the fiscal year 2014 and diluted earnings per share of $0.11 for the fiscal year 2013. The correct amount for both basic and diluted earnings per share is $0.37 for the fiscal year 2014 and diluted earnings per share was $0.10 for the fiscal year 2013. The company has not changed previously issued management comments or reported financial results, except for the corrections pertaining to the presentation of basic and diluted earnings per share. When originally making our calculations, we inadvertently omitted reducing net income by income attributable to potential common shares from non-vested stock awards, which slightly reduces earnings per share.
About CSP Inc.
Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its subsidiaries develop and market IT integration solutions and high-performance computer systems to meet the diverse requirements of our industrial, commercial, and defense customers worldwide.
CSP Inc.’s High Performance Products & Solutions segment includes the MultiComputer Division, which designs and manufactures commercial high-performance computer signal processing systems for a variety of complex real time applications in defense and commercial markets. The Company also owns Myricom, a pioneer in high performance computing interconnect technology. Founded in 1970, Modcomp, Inc. is part of CSPI’s Information Technology Solutions segment, and has offices in North America and Europe. Modcomp provides solutions and services for complex IT environments including disaster recovery, mobility, managed services, security, data center management, and collaboration. More information about CSP, Inc. is available at cspiweb.staging.wpengine.com.
Contact:
Gary Levine
Chief Financial Officer
CSP Inc.
Tel: 978.663.7598, ext.1200
Fax: 978.663.0150