Corsair Communications Inc. reported a net income of $2.8 million, or 19 cents per share, compared with a net loss of $3.1 million, or 40 cents per share, for the same quarter last year.
Revenues for the first quarter were $15.2 million, an increase of 67 percent from revenues of $9.1 million during the first quarter last year. Mary Ann Byrnes, president and chief executive officer of the company, attributed the revenue increase to follow-on sales of PhonePrint to existing U.S. accounts and expansion into Latin American markets. The company signed contracts with Iusacell in Mexico and Codetel in the Dominican Republic.
Results do not include revenues or expenses from Subscriber Computing Inc., which Corsair expects to acquire during the second quarter.
