PADUCAH, Ky., July 1, 2015 /PRNewswire/ -- Computer Services,
Inc. (CSI) (OTCQX: CSVI) announced today that shareholders elected
three directors, approved the ratification of the appointment of
McGladrey LLP as independent auditors for fiscal year 2016, and
authorized an increase in the number of shares of Common Stock from
20 million to 60 million.
Logo - http://photos.prnewswire.com/prnh/20080418/CSILOGO
In comments before the annual meeting, Steven A. Powless, CEO of CSI, stated, "CSI
celebrated our 50th anniversary in March 2015 and reported record revenue and net
income in fiscal 2015. Our record results benefited from new
business generated across product and service lines and high
customer retention rates. We believe our focus on customer
satisfaction was responsible for our 95% contract renewal rate last
year.
"Our Board of Directors remains committed to building long-term
shareholder value. Last year, we returned $16.4 million to shareholders in cash dividends
and stock repurchases while continuing to invest in technology,
infrastructure and people to support our future growth. We
also increased our cash dividend during the year, marking our
43rd consecutive annual increase in our cash
dividend.
"Our strategy for the future will continue to focus on customer
retention and satisfaction; sales and market expansion; marketing
and brand awareness; and product innovation. We believe these
strategies will drive our future growth, earnings and returns to
our shareholders," concluded Powless.
At the meeting, shareholders elected the following directors for
three year terms:
- Basil N. Drossos – retired
General Motors executive
- Terrance P. Haas – retired CEO,
Harvard Drug Group
- David M. Paxton – President and
CEO, Paxton Media Group
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; (ii) risk factors affecting
the financial services information technology industry generally
including, but not limited to, cybersecurity risks that may result
in increased costs to CSI to protect against the risks, as
well as liability or reputational damage to CSI in the event of a
breach of our security; and (iii) 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/csi-updates-shareholders-during-annual-meeting-300107523.html
SOURCE Computer Services, Inc.