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CIBER posts 23% growth 3Q income

October 24 2007

IT staffing and solutions firm CIBER Inc. (NYSE: CBR) recorded a 23% improvement in net income year-over-year for the quarter ended Sept. 30. The company generated net income of $7.5 million. Revenue was $265.7 million, an increase of 8%.

"Our third quarter results overall exceeded our revenue expectations and were in line with our earnings expectations at quarter's outset," said Mac Slingerlend, CIBER president and CEO. "Once again, strong European contributions led the third quarter improvements, but solid results from our U.S. ERP services business unit also contributed to this current success."

Revenue in the company's U.S. Commercial Practice was up about 2% and the CIBER Enterprise Solutions posted 5% growth during the quarter. The European Practice grew 19% organically during the quarter.

Looking ahead, the company anticipates fourth quarter revenue in the range of $262 million and $268 million. Accordingly, CIBER is raising its 2007 fiscal year revenue outlook to between $1.054 billion and $1.060 billion.

For the third quarter ended Sept. 30, compared with the same period in 2006

Revenue: $265.7 million, +8%
Net income: $7.5 million, 23%


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