Daily News
View All NewsCiber Q4 revenue up 3% in constant currency, restructuring in place
Ciber Inc. (NYSE: CBR), a Greenwood, Colo.-based IT staffing and solutions firm, reported revenue rose 3% in constant currency in the fourth quarter to $219.6 million; however, it was down 1% in US dollars.
The company also posted restructuring charges of $3.6 million in the fourth quarter. Ciber began a restricting plan in July that it expects to complete in the third quarter of this year. Total cost of the restructuring plan over the quarters is estimated at $27 million and it is expected to impact 280 people.
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth | constant currency growth |
| Revenue | $219,644 | $222,300 | -1% | 3% |
| Gross margin | 25.8% | 26.0% | ||
| Net income attributable to Ciber | $2,795 | $102 | nm |
Quote
“Fourth quarter results mark an important milestone for Ciber, as we delivered the highest level of profitability at the company in four years and grew revenue in constant currency,” said President and CEO Michael Boustridge. “North America remains solid, International shows signs of slight improvement and restructuring efforts are progressing.”
Revenue by segment
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth | constant currency growth |
| International | $112,125 | $118,935 | -6% | 2% |
| North America | $107,748 | $104,547 | 3% | |
| Other | $776 | $782 | -1% | |
| Total segment revenue | $220,649 | $224,264 | -2% | |
| Inter-segment | -$1,005 | -$1,964 | ||
| Total revenue | $219,644 | $222,300 | -1% |
Full-year results
| (US$ thousands) | 2014 | 2013 | % growth | constant currency growth |
| Revenue | $863,607 | $877,293 | -2% | -2% |
| Gross margin | 25.8% | 25.4% | ||
| Net income attributable to Ciber | -$19,604 | -$14,520 | nm |
Share price and market cap
Ciber shares rose 10.21% in early afternoon trading to $3.67. The company had a market cap of approximately $287.89 million, according to Yahoo!