PADUCAH, Ky., March 18 /PRNewswire-FirstCall/ -- Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors approved a two-for-one stock split effected in the form of a stock dividend. The stock dividend is payable April 30, 2010, to shareholders of record as of the close of business on March 29, 2010. Shareholders will receive two shares for every share held. As a result of the stock split, the total number of outstanding shares will increase to approximately 14.6 million shares.
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"The stock split announced today highlights the continued appreciation in CSI's stock price over the past year," stated Steven A. Powless, President and CEO of CSI. "We believe the increase in our stock price is in recognition of our continued growth in revenue, earnings and cash flow. We remain optimistic about the future of CSI and expect the stock split will improve the affordability of our shares and improve the liquidity in our stock over the long-term as more shares are available to trade in the market."
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and worldclass customer service explain why CSI is known as one of the nation's premier providers of technology solutions for the financial services industry. CSI's stock is traded on the OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements except historical statements contained herein constitute "forward-looking statements." Forward-looking statements are inherently uncertain and are based only on current expectations and assumptions that are subject to future developments that may cause results to differ materially. Readers should carefully consider: (i) economic, competitive, technological and governmental factors affecting the CSI's operations, customers, markets, services, products and prices; and (ii) other factors discussed in CSI's Information and Disclosure Statements and other documents posted from time to time on the OTCQX website, including without limitation, the description of the nature of CSI's business and its management discussion and analysis of financial condition and results of operations for reported periods. CSI undertakes no obligation to update, and is not responsible for updating, the information contained in this release beyond the publication date, whether as a result of new information or future events, or to conform the statement to actual results or changes in CSI's expectations, or otherwise or for changes made to this document by wire services or Internet services.
SOURCE Computer Services, Inc.
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