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Ciber’s Q2 revenue up 2% in constant currency

July 30, 2015

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!