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Ciber Revenue Up 2%

November 01 2011

Ciber Inc. (NYSE: CBR) reported third-quarter revenue rose 1.8 percent to $270.7 million from $265.9 million in the year-ago quarter. However, the Greenwood, Colo.-based firm, which provides information technology solutions and staffing, said revenue fell 2 percent on a constant-currency basis.

“We believe that the disciplined approach we are taking across all aspects of our business is beginning to show results and will drive improved financial performance for the company going forward,” said Executive Vice President and CFO Claude Pumilia. “Additionally, we have brought to closure several of the problematic fixed-price contracts and are managing the others within our expectations.”

Third-quarter gross margin rose to 25.4 percent, up from 24.8 percent a year ago. Net income was $3.1 million, down 7.7 from $3.4 million in the year-ago quarter.

Ciber Inc. (NYSE: CBR)
For the third quarter ended Sept. 30, 2011, compared with the same period in 2010.
Revenue: $270.7 million, +1.8 percent (-2 percent in constant currency)
Net income: $3.1 million, -7.7 percent

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