Computer Services Inc. reported unaudited consolidated earnings results for the first quarter ended May 31, 2012. For the quarter, the company reported total revenues of $47,963,000 against $40,432,000 for the same period a year ago. Operating income was $9,506,000 against $9,298,000 for the same period a year ago. Income before income taxes was $9,504,000 against $9,274,000 for the same period a year ago. Net income was $5,869,000 or $0.40 per basic and diluted share against net income of $5,634,000 or $0.38 per diluted share for the same period a year ago. The company's growth in revenues and net income highlights the continued demand for its processing services and the contribution from HEIT Consulting, Inc. that it acquired in September 2011. Cash flow from operations rose to $13.9 million. During the first quarter, the company invested $5.3 million in new equipment and software. The company expects its growth in operating expenses to increase in the second quarter due to higher costs associated with SGI and the ramp up of conversion costs to bring on major new processing customers. As a result, the company expects to report lower operating income in the second quarter of fiscal 2013 that will not be offset by higher revenues until the second half of the year. The company expects revenues and operating income to ramp up in the second half due to new processing customers coming online and to continued growth from its other business units. The company's goal for fiscal 2013 is to report growth in both revenue and net income compared with fiscal 2012.