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Ciber announces $13 million restructuring, revenue up 2%

July 31 2013

Ciber Inc. (NYSE: CBR) announced a $13 million restructuring plan primarily focused on international operations to begin in the third quarter; the plan will impact approximately 190 employees. The Greenwood Village, Colo.-based information technology services company also reported second-quarter revenue rose 2 percent year over to $220.4 million — up 1 percent in constant currency.

Growth was concentrated in Ciber’s international operations. International revenue rose approximately 8 percent to $113.9 million; it was up 6 percent in constant currency. The company cited a soft European economic environment, but said revenue growth was led by business in Norway and the U.K. The growth was partially offset by challenges in the Netherlands.

North American revenue at Ciber fell 3 percent year over year to $106.8 million in the second quarter. The decline reflects decreased demand and pricing pressure.

Ciber’s second-quarter gross margin narrowed to 25.4 percent from 26.6 percent in the year-ago quarter.

The company reported a net loss of $1.8 million compared to a net loss of $81,000 in the second quarter of last year. The second quarter of 2013 includes restructuring charges of $604,000.

Ciber Inc. (NYSE: CBR)
 For the second quarter ended June 30, 2013, compared with the same period in the previous year.
 Revenue: $220.4 million, 2 percent
 Net loss: $1.8 million vs. net loss of $81,000

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