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| Press Release - January 14, 2004 |
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Yoqneam, Israel, January 14, 2004 MIND CTI Expects EPS of $0.05 for Q4 2003; MIND Was Added to The Tel-Aviv 100 Stock Index; MIND Will Report Q4 2003 and Year-End Results on February 10, 2004 MIND CTI Ltd. (NASDAQ: MNDO), a leading global provider of real-time mediation, rating, billing and customer care solutions for pre-paid and post-paid voice, data and content, today announced that the company has been added to the Tel-Aviv 100 (TA 100) stock index effective as of January 1, 2004. The TA 100 index comprises the largest 100 shares traded in the Tel-Aviv Stock Exchange (TASE), based on market capitalization. In August 2000, MIND completed an initial public offering on the Nasdaq National Market. In July 2002, MIND listed its ordinary shares for trading on the Tel-Aviv Stock Exchange. In December 2002, MIND announced its inclusion in the TASE’s Teltech index. The Teltech index reflects the performance of 33 listed companies from the electronics, computers and life sciences sectors as well as publicly traded venture capital funds. Currently there are approximately 21 million shares outstanding, and the number of shares eligible for trading has recently increased significantly. After the close of trading on Nasdaq on January 9, 2004, investment partnerships affiliated with Summit Partners, LLC distributed the remaining 1,256,200 shares held by them to their partners. Following the distribution, over 10 million shares will be freely tradable on the stock markets on which our shares are listed. Monica Eisinger, MIND’s President and CEO, said: “We have experienced increased public interest in MIND and its shares both on Nasdaq and the Tel-Aviv Stock Exchange and hope that our inclusion in the TA 100 will contribute to this trend.” “We are pleased to announce that we expect the results of Q4 2003 to meet our expectations of improved profitability and revenue growth. Year 2003 was the third challenging year for the telecom industry and MIND succeeded to execute in this difficult market. Successful implementations of our solutions in the 3G area and in VoIP deployments helped us achieve $0.05 net profit per share in Q4 2003 and $0.17 per share for the full year. According to our dividend policy, an amount equal to the Company’s net annual profits will be distributed, subject to Board approval. The Board is expected to resolve upon such distribution on the date it approves the year-end applicable financial statements.” MIND will report its full financial results for the fourth quarter and 2003 on February 10, 2004 after market hours. MIND will host a conference call on February 11, at 8:30 a.m., Eastern Standard Time, to discuss the Company's fourth quarter and 2003 results and other financial and business information. Conference call information will be submitted in the press release. About MIND MIND is a leading global provider of real-time mediation, rating, billing and customer care solutions for prepaid and post-paid voice, data and content. Our customers include worldwide leading carriers servicing millions of subscribers, using our end-to-end solutions for the deployment of new services. MIND operates from offices in the United States, Europe, China and Israeli headquarters. For financial information, reports and presentations, please visit the Investor Relations site: http://www.mindcti.com/ir Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy and financial results are "forward looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information. For more information please contact:
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