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View All NewsCiber Q2 revenue falls, posts net loss
IT solutions and staffing provider Ciber Inc. (NYSE: CBR) announced revenue fell 17% on a constant currency basis in the second quarter, with revenue in its international segment falling 21% in constant currency. Net loss was $51.4 million compared to net income of $1.1 million a year ago.
The Greenwood Village, Colo.-based company sold a division in the Netherlands in June for $25.0 million.
Ciber also reported a $29.6 million noncash goodwill charge related to its international segment.
| (US$ thousands) | Q2 2016 | Q2 2015 | % change | constant currency growth |
| Revenue | $165,912 | $197,944 | -16% | -17% |
| Gross margin | 20.5% | 26.1% | ||
| Net income/loss attributable to Ciber | -$51,353 | $1,145 | nm |
Quote
“Our focus remains on further reductions to our cost structure and enhancing cash generation to improve future results,” CFO Christian Mezger said.
| (US$ thousands) | Q2 2016 | Q2 2015 | % change | constant currency growth |
| International | $71,033 | $89,295 | -20% | -21% |
| North America | $95,095 | $108,825 | -13% | |
| Other | $789 | $833 | -5% | |
| Total segment revenue | $166,917 | $198,953 | -16% | |
| Inter-segment | -$1,005 | -$1,009 | nm | |
| Total revenue | $165,912 | $197,944 | -16% |
Share price and market cap
Ciber shares fell 34% in early afternoon trading to 96 cents. The company had a market cap of $77.36 million, according to Yahoo.