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View All NewsCiber’s Q2 revenue up 2% in constant currency
IT solutions and staffing provider Ciber Inc. (NYSE: CBR) reported revenue fell 8% to $197.9 million, but was up 2% on a constant currency basis at the Greenwood Village, Colo.-based firm.
(US$ thousands) | Q2 2015 | Q2 2014 | % growth | constant currency growth |
Revenue | $197,944 | $214,646 | -8% | 2% |
Gross margin | 26.1% | 25.4% | ||
Net income attributable to Ciber | $1,145 | -$5,467 | nm |
Ciber’s restructuring plan that began last year is continuing through the third quarter of this year. The plan is expected to affect approximately 280 people and restructuring charges will total $27 million. Restructuring charges totaled $675,000 in the second quarter and $1.5 million in the year-ago quarter.
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“In constant currency, we have delivered four consecutive quarters of year-over-year profit improvement and three consecutive quarters of year-over-year revenue growth,” said CFO Christian Mezger. “North America has shown strong revenue performance, while International was flat year-over-year in constant currency.”
Revenue by segment
(US$ thousands) | Q2 2015 | Q2 2014 | % growth |
International | $89,295 | $109,830 | -19% |
North America | $108,825 | $105,154 | 3% |
Other | $833 | $567 | 47% |
Total segment revenue | $198,953 | $215,551 | -8% |
Inter-segment | -$1,009 | -$905 | |
Total revenue | $197,944 | $214,646 | -8% |
Share price and market cap
Ciber shares rose 9.78% in late morning trading to $3.46. The company had a market cap of $272.63 million, according to Yahoo!