CSP Inc. - CSPI STOCK NEWS

CSPi has launched ARIA CloudADR, a cloud-based AI-driven cybersecurity solution designed for automated threat detection and response. This new offering extends security to both cloud and on-premises environments, addressing the growing demand for effective monitoring in hybrid infrastructures. Key features include real-time threat identification, intelligent detection using machine learning, and integration of multiple security tools into one solution. ARIA CloudADR is aimed at simplifying operations for IT staff, requiring minimal training for deployment.

CSPi (NASDAQ: CSPI) has announced that SPE, a managed IT services provider, has selected the ARIA microHSM solution as its key management server for securing its VMware environment. This solution generates hundreds of encryption keys per minute, offering a cost-effective, scalable KMS solution that allows SPE to enhance its managed IT services portfolio. The ARIA microHSM provides significant security benefits, utilizing a PCIe SmartNIC to offload CPU demands and maintain high encryption availability, while enabling greater control over data security through features like 'Bring Your Own Key' (BYOK).

ARIA Cybersecurity Solutions, a CSPi business, has announced a partnership with StorMagic to integrate its SvKMS key management software into the ARIA microHSM solution. This collaboration aims to simplify the deployment of hardware security modules (HSMs), enabling organizations to use KMIP-based encryption efficiently. The microHSM can be deployed in standard PCIe slots and significantly enhances application performance by minimizing network latency. It also ensures secure key management without exposing keys to compromised servers, making encryption more accessible for various applications, including those in cloud environments.

CSP Inc. (NASDAQ: CSPI) reported its financial results for Q4 and fiscal year 2020, highlighting a revenue drop to $14.3 million from $22.2 million a year ago. Despite the challenging business environment due to COVID-19, the company improved gross margins by 8 percentage points, achieving a gross profit margin of 31% in Q4. CSPi ended the year with a solid cash position of $19.3 million, positioning itself for growth in 2021. The company reported a net profit of $36,000 in Q4, a recovery from the prior year's loss, although the full year net loss increased to $(1.4) million.

ARIA Cybersecurity Solutions, a CSPi business, is offering a free three-month trial of its Advanced Detection and Response (ADR) solution to combat the ongoing APT cyber attack, known as "SUNBURST," affecting 18,000 organizations. The Cyber Infrastructure Security Agency (CISA) classifies this attack as sophisticated and challenging to mitigate. ARIA ADR is designed to automatically detect and stop various cyber threats in real-time, making it a strong addition to existing security tools. The solution is compatible with all organization sizes and requires no special configuration.

CSP Inc. (NASDAQ: CSPI) will release its fiscal fourth quarter and full year 2020 financial results before the market opens on December 28, 2020. The company's President and CEO Victor Dellovo and CFO Gary W. Levine will host a conference call on the same day at 10:00 a.m. ET to discuss the results and share a business update. Interested parties can access the live webcast via the company's Investor Relations section on its website.

CSPi Technology Solutions has been formally approved by Cisco Systems for its Cloud and Managed Services Program for Managed Business Communications. This designation confirms that CSPi's Vital™ Unified Communication as a Service (UCaaS) meets Cisco's design and operational guidelines. The solution integrates a secure communication architecture utilizing Cisco’s technology for voice, video, and messaging services. With 99.95% service availability and comprehensive enterprise features, CSPi aims to enhance client experience while catering to the evolving demand for scalable IT solutions.

CSP Inc. (NASDAQ: CSPI) reported its fiscal third quarter results for 2020, with revenue falling to $13.5 million, down from $21.6 million a year ago. Despite a revenue decline, the company improved its gross margin percentage by 9%, reaching 31.2% due to higher margin products. CSPi posted a net loss of $210,000, or $(0.05) per share, compared to a net income of $509,000, or $0.12 per share, in the prior year. The company implemented cost-saving measures amid COVID-19, improving cash flow by approximately $3 million by suspending dividends and halting stock buybacks.