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Ciber revenue up 1%, new CFO named

February 11 2014

Ciber Inc. (NYSE: CBR), a Greenwood, Colo.-based information technology staffing and solutions firm, reported fourth quarter revenue rose 1.26 percent to $222.3 million. Revenue was flat in constant currency.

Growth was concentrated in Ciber’s international operations, where revenue rose nearly 6 percent year over year to $ 118.9 million; it was up 3 percent in constant currency.

The North American division’s third-quarter revenue fell 2.8 percent from the year-ago quarter to $104.5 million.

“The fourth quarter of 2013 demonstrated that our business is getting stronger on all financial measures,” said President and CEO Dave Peterschmidt. “Our initiatives are having a positive impact on both revenues and costs, and we ended the year with good momentum.”

Ciber’s fourth-quarter gross margin edged down to 26.0 percent from 26.1 percent in same quarter last year.

The company reported net income of $102,000 compared with a net loss of $6.2 million in the fourth quarter of last year. The fourth quarter of 2013 includes restructuring charges of $1.97 million.

Full-year 2013 revenue rose 1.3 percent to $830.5 million, and Ciber reported a net loss for the full year of $14.5 million, compared with a net loss of $14.6 million for full-year 2012. Restructuring charges totaled $16.9 million for 2013 compared with $8.0 million in 2012.

Ciber also announced today the promotion of Senior Vice President of Finance Christian Mezger to chief financial officer. Mezger replaces interim CFO Mike Lehman, who will continue to serve Ciber in an advisory capacity.

Claude Pumilia resigned as Ciber's CFO in September.

Mezger joined Ciber in August 2011. He previously was vice president of finance for the $11 billion technology services business of Hewlett Packard.

Ciber shares rose 8.75 percent to $4.10 in early afternoon trading, and the company had a market cap of $309.34 million, according to Yahoo!


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