CIBER announces letter of intent and comfort with current quarter.ENGLEWOOD, Colo.--(BUSINESS WIRE)--June 26, 1997--CIBER, Inc. (NYSE NYSE See: New York Stock Exchange : CBR) announced today the execution of a letter of intent to acquire by merger a privately-held provider of information technology services headquartered in the mid-Atlantic area. Identification of the name of the company to be merged is pending notification to its employees, and the closing is expected to occur by July 31, 1997. "We are excited about this expected addition to our operations. We believe this is a desirable expansion of our existing operations, particularly on the east coast. This will add approximately 150 consultants with current annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue of $15-20,000,000," said Mac Slingerlend, CIBER's President/COO. The merger is expected to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . "Additionally, with the quarter now mostly complete, we are comfortable that the consensus revenue and earnings per share forecasted by research analysts are in line with our expectations," Mr. Slingerlend continued. 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 , 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 2,600 highly trained consultants 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 for "business/IT" problems and LAN/WAN LAN/WAN Local Area Network/Wide Area Network consulting services. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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., Englewood Kara Kennedy, Shareholder Relations, 303/220-0100 http://www.ciber.com |
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