IT Staffing Report: Nov. 21, 2013

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CGI revenue rises 53% in Q4 in wake of Logica buy

CGI Group Inc. (TSX: GIB.A) (NYSE: GIB), a Montreal-based provider of information technology services, reported revenue rose 52.7 percent to C$2.46 billion in its fiscal fourth quarter ended Sept. 30.

“The significant revenue growth was due to the impact of the Logica acquisition, and to a lesser extent from the continued growth in our U.S. operations, which posted a constant currency growth of 16.1 percent,” CGI reported in a filing with the U.S. Securities and Exchange Commission. CGI acquired Logica plc on Aug. 20, 2012, for C$2.7 billion plus assumption of Logica’s net debt of C$900,000.

CGI posted net earnings of C$141.0 million (US$136.8 million) compared to a net loss of C$168.0 million in the fourth quarter of last year.

CGI Group Inc. (TSX: GIB.A) (NYSE: GIB)
 For the fourth quarter ended Sept. 30, 2013, compared with the same period a year ago.
 Revenue: C$2.46 billion (US$2.38 billion), +52.7 percent
 Net earnings: C$141.0 million (US$136.8 million) vs. net loss of C$168.0 million

For the full year ended Sept. 30, 2013, compared with the previous year.
 Revenue: C$10.08 billion (US$9.78 billion), +111.3 percent
 Net earnings: C$455.8 million (US$442.0 million) vs. C$131.5 million

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