CIBER announces record 3rd quarter results.ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 16, 1997--CIBER, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CIBR) reported record revenues and earnings today for its third fiscal 1997 quarter, ended March 31, 1997. Revenues for the quarter were $69,651,000, an increase of 44% over revenues for the quarter ended March 31, 1996 of $48,291,000. 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 March 1997 quarter increased 89% to $4,882,000 or $.24 per share, compared to $2,583,000 or $.13 per share for the same quarter of fiscal 1996. Revenues for the nine months ended March 31, 1997 were $183,401,000, an increase of 36% over revenues for the same period ended March 31, 1996 of $133,300,000. Pro forma net income for the recent nine months, excluding one-time merger costs, was $.58 per share. After merger costs, pro forma net income for the nine months ended March 31, 1997 increased to $10,373,000 or $.52 per share compared to $6,525,000 or $.35 per share for the same period of fiscal 1996. "The positive surprises of this quarter reflect strong results across all our operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon ," stated Mac Slingerlend, President/Chief Operating Officer. "Our four-pronged business model is benefitting from the needs of our clients to adapt quickly with quality assistance. Additionally, our business combination this quarter (Davis, Thomas & Associates, Inc.) is off to a wonderful start," Mr. Slingerlend continued. All prior period information has been restated for the poolings of interests with Practical Business Solutions, Inc. (May 1996), Spectrum Technology Group, Inc. (September 1996), and Technology Management Group, Inc. and Technology Support Group, Inc. (November 1996). Revenues for the three and nine months ended March 31, 1997 were 90% and 82%, respectively, greater than revenues as originally reported last year for the comparable period. 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 40 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, 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, package software implementation services and LAN/WAN LAN/WAN Local Area Network/Wide Area Network technical support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . -0-
CIBER, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
In thousands, Three Months Nine Months
except per share data Ended March 31, Ended March 31,
1997 1996 (1) 1997 1996 (1)
Revenues $69,651 $48,291 $183,401 $133,300
Salaries, wages, and other
direct costs 47,142 33,449 124,617 91,413
Selling, general and
administrative expenses 13,892 10,404 38,897 30,110
Amortization of intangible
assets 704 460 1,833 1,358
Merger costs -- -- 1,218 --
Operating income 7,913 3,978 16,836 10,419
Interest income, net 229 216 668 222
Income before income
taxes 8,142 4,194 17,504 10,641
Income tax expense 3,260 1,413 8,439 2,895
Net income $4,882 $2,781 $9,065 $7,746
Pro forma information:
Historical net income $4,882 $2,781 $9,065 $7,746
Pro forma adjustment
to income tax expense -- (198) 1,308 (1,221)
Pro forma net income $4,882 $2,583 $10,373 $6,525
Pro forma income per
common and common
equivalent shares $.24 $.13 $.52 (2) $0.35
Weighted average common and
common equivalent
shares 20,492 19,575 20,139 18,847
(1) Restated for poolings of interests. (2) After merger costs of $.06 per share for the nine months ended March 31, 1997. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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: Certain of the statements made above may be considered forward-looking; and because such statements involve risks and uncertainties, actual results may vary materially from those referred to in such statements. Please refer to a discussion of certain of these risks and uncertainties in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , plus Form 10-Qs and other Securities and Exchange Commission filings. CONTACT: CIBER, Inc., Englewood 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, Shareholder Relations, 303/220-0100 http://www.ciber.com |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion