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CTG second-quarter revenue up 22%

July 28 2010

Computer Task Group Inc. (NASD: CTGX) reported second-quarter revenue of $81.1 million, up 21.9% from the year-ago quarter. The Buffalo NY-based IT staffing and services firm said demand for staff and electronic medical records projects fueled the growth.

Computer Task Group's information technology staffing revenue rose 26% to $54.8 million. Second-quarter solutions revenue increased 14% to $26.3 million.

Gross margin narrowed to 21.9% from 22.5%.

Second-quarter net income rose to $1.9 million, up 36.6% from $1.4 million in the second quarter of last year.

Computer Task Group estimated third-quarter revenue would rise 21.3% to 24.3% compared with the third quarter of 2009. The company also estimated full-year 2010 revenue would be up 16.1% to 19.0% from the previous year.

Computer Task Group Inc. (NASD: CTGX)
For the second quarter ended June 2, 2010, compared with the same period in 2009.
Revenue: $81.1 million, +21.9%
Net income: $1.9 million, +36.6%


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