CIBER Announces Record Fiscal Year End and 4th Quarter Results.ENGLEWOOD Englewood (ĕng`gəlw d).1 City (1990 pop. 29,387), Arapahoe co., N central Colo., on the South Platte River, a residential and industrial suburb of Denver; inc. 1903. , Colo.--(BUSINESS WIRE)--Aug. 7, 1997--CIBER, Inc. ("CIBER CIBER Center for International Business Education and Research (various locations) CIBER Center for International Business and Research (Michigan State University) CIBER Cellular Inter-Carrier Billing Exchange Record ") (NYSE NYSE See: New York Stock Exchange -CBR) reported record revenues and earnings today for its fiscal year and fourth quarter ended June June: see month. 30, 1997. Revenues for the fiscal year ended June 30, 1997 were $262,274,000, an increase of 40% over revenues for the fiscal year ended June 30, 1996 of $187,653,000. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income for the year, excluding one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. merger costs, was $.84 per share. After merger costs, pro forma net income for fiscal 1997 increased 73% to $15,933,000, or $.78 per share, compared to $9,228,000, or $.48 per share, for fiscal 1996. Revenues for the fourth quarter were $78,873,000, an increase of 45% over revenues for the quarter ended June 30, 1996 of $54,353,000. Pro forma net income for the June 1997 quarter increased 106% to $5,560,000, or $.27 per share, compared to $2,703,000, or $.14 per share, for the same quarter of fiscal 1996. "We are extremely pleased with our record results for the year and the quarter," stated Mac Slingerlend, President/Chief Operating Officer. "In each of our four years as a public company we have set records in revenues, net income and earnings per share. These record results are reflective Refers to light hitting an opaque surface such as a printed page or mirror and bouncing back. See reflective media and reflective LCD. of the strong ongoing demand for CIBER's services and the dedicated efforts of our employees," Slingerlend continued. All prior period information has been restated for the poolings of interests with Spectrum Technology Group, Inc. (September 1996), and Technology Management Group, Inc. and Technical Support Group, Inc. (November 1996). Revenues for the fiscal year and three months ended June 30, 1997 were 67% and 74%, respectively, greater than revenues as originally reported last year for the comparable periods. CIBER, Inc. is a nationwide provider of information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. services. Through our approximately 3,500 employees operating out of over 50 branch offices in over 20 states, plus offices in each of three foreign countries, CIBER offers services to its clients in four principal areas: information technology consulting services, package software implementation services, management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects for "business/IT" problems and LAN/WAN LAN/WAN Local Area Network/Wide Area Network consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . -0-
CIBER, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
In thousands, Fiscal Year Three Months
except per share data Ended June 30, Ended June 30,
1997 1996(1) 1997 1996(1)
Revenues $262,274 $187,653 $78,873 $54,353
Salaries, wages, and
other direct costs 177,373 128,724 52,756 37,311
Selling, general and
administrative expenses 55,135 41,674 16,238 11,564
Amortization of
intangible assets 2,770 1,795 937 437
Merger costs 1,218 901 -- 901
Operating income 25,778 14,559 8,942 4,140
Interest income, net 946 504 278 282
Income before
income taxes 26,724 15,063 9,220 4,422
Income tax expense 12,099 5,056 3,660 2,161
Net income $14,625 $10,007 $5,560 $2,261
Pro forma information:
Historical net
income $14,625 $10,007 $5,560 $2,261
Pro forma
adjustment
to income tax
expense 1,308 (779) -- 442
Pro forma net
income $15,933 $ 9,228 $5,560 $2,703
Pro forma income per
common and common
equivalent
shares $.78(2) $.48(2) $.27 $.14(2)
Weighted average common and
common equivalent
shares 20,329 19,065 20,900 19,718
(1) Restated for poolings of interests through June 30, 1997.
(2) After merger costs of $.06 per share for the fiscal year
ended June 30, 1997 and $.05 per share for the fiscal year and three
months ended June 30, 1996.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Forward-looking statements involve risks and
uncertainties that could cause actual results to vary materially from
such statements. Please refer to discussions of certain of these
risks and uncertainties in the Company's Annual Reports, 10-Ks, 10-Qs
and other Securities and Exchange Commission filings.
CONTACT: CIBER, Inc. Kara Kara (kär`ə), river, c.140 mi (230 km) long, NE European and NW Siberian Russia. It flows N from the N Urals into the Kara Sea, forming part of the traditional border between European and Asian Russia. It is navigable in its lower course. Kennedy, 303/220-0100 http://www.ciber.com |
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