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Ciber first-quarter revenue rises

May 05 2010

First-quarter revenue at Ciber Inc. (NYSE: CBR) rose 1.6% from the year-ago quarter to $262.7 million. The Greenwood CO-based firm, which provides information technology solutions and staffing, said revenue fell 1.4% on a constant currency basis.

Gross margin narrowed to 24.9% in the first quarter from 25.1% in the same period last year.

Ciber reported first-quarter net income of $3.5 million, down 17.4% from $4.3 million in the first quarter of 2009.

The company estimated second-quarter revenue of $258 million to $265 million -- representing a year-over-year increase of 3.2% to 6.0%.

Ciber said its search for a new, permanent CEO is progressing. The company announced last month that Mac Slingerlend was retiring from the president and CEO role, and that CFO Peter Cheesbrough took the president and CEO position on an interim basis.

Ciber Inc. (NYSE: CBR)
For the first quarter ended March 31, 2010, compared with the same period in 2010.
Revenue: $262.7 million, +1.6%
Net income: $3.5 million, -17.4%

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