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Ciber Revenue Up, but North America Down

May 03 2011

Ciber Inc. (NYSE: CBR) reported second-quarter North American revenue fell 5.0 percent in the first quarter, while overall revenue rose 7.5 percent. The Greenwood, Colo.-based firm, which provides information technology solutions and staffing, said revenue rose 7 percent on a constant-currency basis.

North American revenue was $115.0 million in the first quarter, compared with $121.1 million in the year-ago quarter. Company-wide, revenue was $282.5 million, up from $262.7 million in the first quarter of 2010.

The decline in North America was driven in part by the expected completion of several engagements at the end of last year and in the first quarter of 2011, as well as delays in the commencement of new projects, the company reported.

First-quarter gross margin rose to 25.8 percent, it highest level in nine quarters and up from 25.1 percent a year ago.

Ciber forecast revenue growth of more than 4 percent for fiscal year 2011.

Ciber Inc. (NYSE: CBR)
For the first quarter ended March 31, 2011, compared with the same period in 2011.
Revenue: $282.5 million, +7.5 percent
Net income: $4.1 million, + 17.0 percent

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