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Article Excerpt
Record Revenue and Increased EPS for Both Periods; Outlook Increased
GREENWOOD VILLAGE, Colo., July 25 /PRNewswire-FirstCall/ -- CIBER, Inc. , today reported results for the second quarter and first half of 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010927/CBRLOGO ) Financial Highlights -- Second Quarter 2007 Results * Revenue increased to a record $266.5 million, up $16.5 million from $250.0 million in 2006's June quarter. This represented 7% revenue growth, 4% of which was organic. * Gross profit margins improved 70 basis points sequentially from 2007's first quarter to 27.7%. * Net income of $7.8 million increased 16% from $6.8 million for the second quarter of 2006. * GAAP EPS of $0.13 per share increased $0.02 per share, or 18%, compared to the June 2006 quarter. First Half 2007 Results * Revenue of $525.7 million was $34.0 million higher than a year earlier. This represented a revenue increase of 7%, 4% of which was organic. * Gross profit margins were 27.4% for the first half of 2007, a 60 basis point increase over the like 2006 period. * Net income of $14.4 million for the first half of 2007 represented a $3.2 million increase, or 29%, from 2006's first half. * GAAP EPS of $0.23 per share was 28% higher than $0.18 per share for the first half of 2006. Management Comments
"Our second quarter and first half results continue to demonstrate the relevancy of our strategies and the quality of our employee base. Particular strength in our European and US ERP Practices led the current increases, both of which had improvements in gross margins for services and reduced overhead expenses," said Mac Slingerlend, CIBER's President and Chief Executive Officer. "Investments in leadership in the second quarter in our US ERP, Federal Government and Indian operations highlighted personnel actions to drive these strategic operations."
Results By Business Unit US Commercial Practice * This Practice, our...
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