By a News Reporter-Staff News Editor at Computer Weekly News -- Computer Services, Inc. (CSI) (OTCQX: CSVI) reported record revenues and net income for the fiscal third quarter and nine months ended November 30, 2013 . Third quarter revenues rose 7.0% to $53.1 million in fiscal 2014 compared with $49.6 million in the third quarter of fiscal 2013. Third quarter net income increased 1.9% to $6.7 million , and diluted net income per share rose 4.4% to $0.47 , compared with $6.6 million , or $0.45 per diluted share, in the third quarter of fiscal 2013. "CSI marked its 38(th) consecutive quarter of revenue growth at November 30, 2013 ," stated Chief Executive Officer Steven A. Powless . "We benefited from higher processing revenues generated from our core processing customers and higher other revenues due to increased demand for our mobile and Internet banking solutions as well as record transaction volume from our regulatory compliance services. "We expect to report continued revenue growth in the fourth quarter based on our pipeline of new business, high contract renewal rates and growth in transaction volume," Powless continued. "We believe CSI is positioned well to drive future revenue growth through our expanded sales and marketing programs. During the first nine months of fiscal 2014, we invested $9.3 million in new hardware and software to support our continued growth in transaction volume. We expect these investments in hardware, software, sales and marketing programs to be major drivers for our continued growth next year." During the third quarter, CSI's Board of Directors declared a cash dividend of $0.16 per share. The dividend was paid on December 26, 2013 , to shareholders of record as of the close of business on December 2, 2013 . Keywords for this news article include: Software, Marketing, Advertising. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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