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CTG revenue falls 14%

April 29 2009

First-quarter revenue fell 14.0% year-over-year at Computer Task Group Inc. (NASD: CTGX) to $74.6 million. The Buffalo NY-based firm, which provides information technology staffing and solutions, reported demand fell in both staffing and solutions during the first quarter. Chairman and CEO James Boldt said lower demand is expected in the second quarter, but the second half of the year should bring improvement.

CTG's first-quarter staffing revenue fell 11.9% to $50.4 million.

The company's first-quarter gross margin improved to 22.4% from 21.6% in the year-ago quarter.

Net income fell 7.3% year-over-year to $1.3 million.

CTG estimated second-quarter revenue of between $66.5 million and $68.5 million, a year-over-year decrease of 27.2% to 29.3%.

Computer Task Group Inc. (NASD: CTGX)
For the first quarter ended April 3, 2009, compared with the same period in 2008.
Revenue: $74.6 million, -14.0%
Net income: $1.3 million, -7.3%

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