CSP Inc. - CSPI STOCK NEWS

CSPi (NASDAQ:CSPI), a provider of security and packet capture products, managed IT and professional services, and technology solutions, has scheduled the release of its fiscal 2024 fourth quarter and full year financial results before market open on Friday, December 20, 2024. CEO Victor Dellovo and CFO Gary W. Levine will host a conference call at 10:00 a.m. ET to discuss the results and provide a business update. The call will be accessible via webcast and telephone, with replay available on CSPi's website for approximately one year.

CSPi (NASDAQ:CSPI) announced the expansion of its Board of Directors from five to seven members with the addition of Steven Webber and Anthony Folger. Webber, currently COO/CFO at Quickbase, brings 30 years of financial management experience, including roles at Carbon Black, Syniti, and EMC Folger, currently CFO at Progress, has over 30 years of financial and operational experience, including CFO positions at Carbonite and other senior finance roles.

The company also announced that Board members Charles Blackmon and C. Shelton James will not seek re-election, with their departures effective February 3, 2025.

ARIA Cybersecurity Solutions, a CSPi business (NASDAQ:CSPI), announced a new reseller partnership with CED Industrial Solutions Network, a provider of Rockwell Automation software across 19 US states. The partnership focuses on distributing ARIA's AZT PROTECT™, a zero-trust cybersecurity solution that protects critical infrastructure applications from malware, ransomware, and nation-state-backed attacks. The solution uses AI-based countermeasures to lock down critical applications and prevent code-based attacks on production control systems. CED will distribute the solution through its network of 80 branch offices.

ARIA Cybersecurity Solutions, a CSPi business (NASDAQ:CSPI), announced that a major independent retail energy producer has selected ARIA AZT PROTECT for deployment across over 30 plants. The solution provides zero-trust protection for critical infrastructure applications, specifically designed to combat zero-day malware, ransomware, and nation-state-backed attacks. The AI-based system offers automated protection for both legacy and modern power plant operations, ensuring regulatory compliance while protecting vulnerable production control systems.

CSP Inc. (NASDAQ:CSPI) reported fiscal third quarter 2024 results, highlighting a 10% growth in services revenue and a 150 basis point improvement in gross margin percentage. The company achieved near-record cash position while continuing infrastructure buildout for AZT PROTECT market penetration. Key highlights include:

- Revenue of $13.1 million, down from $17.7 million in Q3 2023
- Services revenue increased to $5.3 million, up 10% year-over-year
- Gross profit of $4.6 million, or 35.0% of sales
- Net loss of $0.2 million, or $0.02 per diluted share
- Cash and cash equivalents of $28.9 million

The company expanded its AZT PROTECT customer base, entered new reseller partnerships, and hired a new VP of Global Sales to accelerate adoption. CSPi also declared a quarterly dividend of $0.03 per share.

CSPi (NASDAQ:CSPI), a provider of security and packet capture products, managed IT and professional services, and technology solutions, has announced the release date for its fiscal 2024 third quarter financial results. The company will issue the results before the market opens on Tuesday, August 13, 2024.

Following the release, CSPi will host a conference call at 10:00 a.m. ET on the same day. President and CEO Victor Dellovo and CFO Gary W. Levine will lead the call, reviewing financial results and providing a business update. Investors and interested parties can access the live webcast through the provided link or join via telephone using the specified dial-in numbers and participant access code.

ARIA Cybersecurity Solutions, a CSPi business (NASDAQ:CSPI), has been selected by Worldwide Technology (WWT) to supply its AZT PROTECT™ solution to customers. This partnership gives ARIA access to WWT's large customer base, particularly in operational technology (OT) environments and critical infrastructure. The AZT PROTECT™ solution, launched in July 2023, is designed to stop sophisticated cyberattacks without relying on frequent updates or patching. ARIA's CEO, Gary Southwell, highlighted the increasing prevalence of attacks on critical infrastructure and the need for effective defense solutions. The partnership aims to address the growing cybersecurity challenges faced by critical infrastructure providers worldwide.

ARIA Cybersecurity Solutions, a CSPi business (NASDAQ:CSPI), has been selected to present at the Rockwell Automation Fair in Anaheim, California, from November 18th to 21st. The event will focus on industrial automation challenges, particularly the rise in cybersecurity attacks on critical infrastructure. ARIA will showcase its AZT PROTECT™ solution and present on measuring cybersecurity risks in industrial operations.

ARIA CEO Gary Southwell will discuss attack techniques, their financial impact, and how companies can comply with new insurance and regulatory requirements. Since 2021, ARIA has detected over 700 attacks similar to the Colonial Pipeline incident. The company is collaborating with Rockwell to bring new solutions to manufacturing environments, complementing existing defenses and addressing gaps in security.

ARIA Cybersecurity Solutions, a CSPi business (NASDAQ:CSPI), offers AZT PROTECT to prevent outages caused by flawed cloud-based updates, like the recent CrowdStrike-induced Windows outage on July 19, 2024. This lightweight agent can be deployed alongside existing protection systems to:

• Stop untested updates from automatically implementing on critical systems
• Catch sophisticated attacks missed by other vendors
• Allow time for proper testing of software updates
• Protect critical infrastructure without requiring frequent updates

AZT PROTECT uses a different approach that doesn't rely on constant updates, enabling companies to apply best practices in testing cybersecurity updates before deployment while maintaining protection against attacks.