Work to turn around IT staffing and solutions provider Computer Task Group Inc. (NYSE: CTG) is moving ahead, its board of directors reported in an open letter to shareholders Thursday. Part of the turnaround includes growth of European operations.

CTG also aims to look at new opportunities and expanding lines of business. And the board noted it will continue to pursue growth in Europe, and operations on the continent are continuing to grow on a local currency basis. Recent wins include European Ministries and two prominent telecom services providers as well several electronic healthcare records implementations for Belgian hospitals.

“Our objectives include leveraging our multilingual capabilities for regional expansion; cross-selling application solutions, testing and IT services management; and monitoring and capturing post-Brexit opportunities for IT technology changes and enhancements”, the letter noted.

CTG operates in Belgium, Luxembourg and the UK in addition to North America.

In addition, the company pointed to several moves taken since July aimed at improving results:

• Naming Bud Crumlish as CEO
• Expanding and reorganising recruiting and delivery capabilities, including launching an offshore recruiting center in Hyderabad, India.
• Cost management measures, including reducing headcount.
• Authorised a program to repurchase up to $10 million in shares.

The company now expects compounded organic annual revenue growth of 7%, with revenue exceeding $400 million by the end of 2019.

Revenue at the Buffalo, NY-based firm had fallen by 16.1% in the third quarter. It also reported a net loss of $16.2 million, which included a goodwill impairment of $15.8 million. The company noted in a filing at the end of the third quarter that work in North America installing electronic medical records systems grew from 2008 through 2012, assisting growth at the company. But those installations were largely complete in late 2014.

However, third-quarter European revenue had increased in part due to the relative strength of the US dollar, according to a filing with the US Securities and Exchange Commission.