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Ciber revenue up 1%

April 30 2013

Ciber Inc. (NYSE: CBR), a Greenwood, Colo.-based IT staffing and solutions firm, reported first-quarter revenue of $225.0 million, up 0.8 percent from $223.1 million in the first quarter of 2012. The company also posted a restructuring charge of $300,000.

First-quarter North America revenue rose 1.6 percent to $107.2 million compared with revenue of $105.5 million in the first quarter of last year. International revenue was roughly flat at $118.1 million.

Gross margin for the company narrowed to 25.1 percent in the first quarter from 25.3 percent in last year’s first quarter.

Ciber reported a restructuring charge of $349,000 in the first quarter.

“We continue to streamline Ciber, while aligning our resources with the most promising opportunities,” said CFO Claude Pumilia. “Our objective remains to lower our overall cost structure, improve operating procedures, and gain efficiencies in delivery, while improving the quality of our client-facing services. The restructuring plan we announced in the third quarter of 2012 is well underway and on plan.”

Ciber expects savings of $7 million in 2013 and $11 million annually thereafter, according to Pumilia. The company expects to incur remaining restructuring charges of $5 million in the rest of the year as it continues consolidating its real estate footprint.

The company posted first-quarter net income of $1.6 million, up 41.1 percent compared to $1.1 million in the same period year prior.

Ciber Inc. (NYSE: CBR)
For the first quarter ended March 31, 2013, compared with the same period in the previous year.
Revenue: $225.0 million, +0.8 percent
Net Income: $1.1 million, +41.1 percent


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