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Ciber Revenue Falls 5%, Names COO

February 23 2012

Ciber Inc. (NYSE: CBR), a Greenwood, Colo.-based provider of information technology solutions and staffing, reported fourth-quarter revenue fell 4.9 percent to $238.9 million from $251.2 million in the year-ago quarter. Also today, the company named a new chief operating officer.

Ciber also announced it plans to complete the sale of its federal division in the first quarter of this year, and the division’s results are not included in the results from continuing operations. The company announced the sale of the division earlier this year to CRGT Inc.

Ciber’s fourth-quarter North America revenue fell 12.2 percent on a year-over-year basis to $101.8 million. However, international revenue rose 3.4 percent to $116.4 million in the fourth quarter. IT outsourcing revenue fell 6.2 percent to $23.2 million.

Fourth-quarter gross margin was 25.9 percent, up from 24.0 percent in the same period last year.

Ciber posted a net loss of $16.2 million in the fourth quarter, which includes $18.5 million in loss from discontinued operations net of income tax. Ciber posted a net loss of $3.3 million in the fourth quarter of the previous year.

“We have made measured progress this past year on the turnaround of Ciber,” said President and CEO Dave Peterschmidt. “The significant actions we have taken, including stabilizing North America, lowering our risk profile, agreeing to sell our federal business and improving delivery quality, have come about by the changes we have made on several fronts including strengthening our leadership and overhauling our operational processes.”

Also today, Ciber named Rick Genovese as COO with responsibility for all of the company’s operating divisions. Genovese previously served as executive vice president of Ciber’s North America operations. Genovese joined the company in September 2011. He previously held positions at IBM and Price Waterhouse Coopers.

Full-year revenue at Ciber totaled $976.9 million in 2011, a 2.4 percent increase from $953.8 million in 2010.

Gross margin narrowed to 24.4 percent in 2011 from 25.1 percent in 2010.

Net loss for 2011 totaled $67.3 million including discontinued operations, compared to a net loss of $77.2 million in 2010.

Ciber Inc. (NYSE: CBR)
For the fourth quarter ended Dec. 31, 2011, compared with the same period in the previous year.
Revenue: $238.9 million, -4.9 percent
Net loss: $16.2 million vs. net loss of $3.3 million

For the fiscal year ended Dec. 31, 2011, compared with the previous year.
Revenue: $976.9 million, +2.4 percent
Net loss: $67.3 million vs. net loss of $77.2 million

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