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Ciber revenue rises 2%

August 05, 2010

Second-quarter revenue at Ciber Inc. (NYSE: CBR) rose 1.8% to $265.4 million from $260.6 million in the same period a year ago. The Greenwood CO-based firm, which provides IT solutions and staffing, said revenue rose 3% on a constant currency basis.

Gross margin narrowed to 25.1% in the second quarter from 25.3% in the year-ago quarter.

Ciber posted a net loss of $80.8 million in the second quarter. The company reported a goodwill impairment of $112.0 million and a charge of $6.1 million related to the departure of its former CEO and expenses for the hiring of a new top executive. Former CEO Mac Slingerlend retired earlier this year. New CEO Dave Peterschmidt came on board last month.

For the third quarter, Ciber forecast revenue of between $264 million and $268 million, a year-over-year increase of between 7.7% and 9.3%.

Ciber increased its forecast for full-year 2010 revenue to at least $1.06 billion from its original range of $1.025 billion to $1.045 billion.

Ciber Inc. (NYSE: CBR)
For the second quarter ended June 30, 2010, compared with the same period in 2009.
Revenue: $265.4 million, +1.8%
Net loss: $80.8 million vs. net income of $4.7 million